Africas ecobank transnational raises $200 mln loan

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Dec 10 Africa's Ecobank Transnational Inc, the parent company of pan-African banking group Ecobank, has signed a $200 million one-year syndicated loan, the bank announced on Wednesday. Deutsche Bank acted as initial mandated lead arranger, bookrunner and facility agent for the loan, which raised $230 million in syndication.

The facility pays an interest margin of 475 basis points over Libor and will be used for general corporate purposes, one banker close to the deal said.

In November, Ecobank Nigeria signed a $150 million, one-year loan coordinated by Standard Chartered Bank.

ETI is rated B by Fitch Ratings.

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