Ecobank raises $200 million on international debt market, to finance SMEs mainly
Thursday, 21 December 2017 19:27
Togo-based holding, Ecobank, has raised $200 million on the international debt market, via a syndicated debt.
The debt which recorded the participation of many institutional investors, has a 5-7 years multiple maturity period.
The loan was arranged by the Dutch development bank FMO which provided $58.5 million out of the proceeds. Other contributors are DEG with €21 million, Proparco €21 million, Belgian Investment Company for Developing Countries $15 million, Austria’s OeEB $15 million, Blue Orchard Microfinance Fund $30 million, Symbiotics $21.5 million and Oikocredit $10 million.
Ecobank said these funds will help it boost the financing capacity of some of its 36 subsidiaries, without specifying which exactly. It only indicated that 75% of the proceeds will be spent on its SME support strategy across its whole network.
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