The pan-African banking group Ecobank Transnational Incorporated (ETI) said on Wednesday it has obtained a $285 million senior unsecured loan from Deutsche Bank AB.
The lender in a notice to the Nigerian Stock Exchange (NSE) said was obtained through a syndicates of banks led by Deutsche Bank.
ETI said it appointed Deutsche Bank to be Initial Mandated Lead Arranger, Book-runner and Facility Agent, together with a syndicate of international banks to arrange the facility.
"Deutsche Bank A.G has successfully closed primary syndication with an over-subscribed order book. The final size of the facility was maintained at $285 million," . ETI stated.
The bank said it worked with Deutsche Bank on this transaction in view of the latter's strong distribution platform and rapid execution capabilities.
The facility will be used to refinance existing loans, the commercial lender said.
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