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Emerging MarketsAfrica

Ecobank makes ratchets in price but disappoints on size

Ecobank Nigeria has priced its $200m seven year non-call five deal at a yield of 9% with a large tightening in price guidance that seemed to brush aside critics who said printing a note this week would be challenging. But the note was sold with a size that several syndicate officials away from the deal said was smaller than the “benchmark” size originally advertised.

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