Ecobank size scrutinized as big price move made from talk to launch

By Francesca Young
07 Aug 2014

Ecobank Nigeria has priced its $200m seven year non-call five deal at a yield of 9% with a large tightening in price guidance, brushing aside sceptics 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 for the bond.

As benchmark size had originally been indicated, bankers away from the deal had been expecting a size of $300m at a ...

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