Ecobank Transnational Incorporated (ETI) has received approval from its shareholders to raise $250 million through the issuance of Additional Tier 1 (AT1) capital-qualifying instruments.
This was disclosed in a regulatory filing with the Nigerian Exchange, signed by the Group Company Secretary, Madibinet Cisse, following an Extraordinary General Meeting (EGM) held by the pan-African banking group.
According to the filing, the capital raise will be open for subscription  on a first-come, first-served basis, limited to 100 shareholders initially, with a secondary option for other interested investors.
The instrument’s conversion price will be set above the 5-day Volume Weighted Average Price (VWAP) of Ecobank’s shares on the Nigerian Exchange at the time of conversion. It will be converted to US dollars using the prevailing exchange rate, with a floor price of $0.01 per ordinary share on the conversion date.
This new fundraising initiative follows Ecobank’s successful issuance of $125 million in Senior Notes in May 2025 at a coupon rate of 10.12%, due in 2029. It also builds on an earlier $400 million issuance in October 2024, which carried the same terms.
Both notes received strong interest from investors, Â including financial institutions, asset managers, and development finance lenders.
The move reflects the group’s commitment to reinforcing its financial position and enhancing investor confidence.
