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[ MAIN ]BANKING & FINANCENEWS

Ecobank Gets $150m Loan From Foreign Banks

The Nigerian unit of pan-African lender Ecobank has announced that it secured $150 million in a debt facility from a group of international banks to grow its loan book.

In a statement issued Monday, the African bank said the loan, which attracted participation from Standard Chartered Bank, Commerzbank, Mashreq and First Gulf Bank PJSC, was a one-year facility.

“The facility marks Ecobank’s debut in the international loan market and lays the groundwork for future fundraising on a broader basis,” the bank said.

 

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