Ecobank Transnational Incorporated (ETI) has announced the successful pricing of its $400 million 10.125% notes due on 15 October 2029. Interest on these notes will be payable semi-annually in arrears on 15 April and 15 October each year, commencing on 15 April 2025.
The net proceeds from the issuance of the notes will be used for general corporate purposes, including the refinancing of the $350 million Senior Bridge-to-Bond Loan Facility entered into in March 2024.
President Bola Tinubu has signed four (4) new Tax Reform Bills into law, comprising the Nigeria Tax Act (NTA), Nigeria Tax Administration Act (NTAA), Nigeria Revenue Service Act (NRSA), and the Joint Revenue Board Act (JRBA). The new laws are expected to take effect in 2026. The reforms aim to stimulate economic growth, boost government revenue, improve […]
The Nigerian equities market last week closed on a bearish note on the backdrop of selloff in Dangote Cement, MTN Nigeria and 52 other stocks that closed the week lower. The All-Share Index was down by 2.51% to close at 141,004.14 points from 144,628.20 points recorded the previous week. Investors lost N2.29trn as market capitalization declined by 2.51%[…]
