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ETG tests investor appetite for first global bond
18 Mar
Summary
- ETG Group is exploring its first international bond sale.
- The company is gauging investor interest with Standard Chartered.
- Proceeds would refinance debt and diversify funding sources.
ETG Group, a significant player in Africa's agricultural sector, is currently exploring the possibility of its first international bond sale. The company has been engaging with potential investors to assess demand for a dollar-denominated bond. Standard Chartered Plc is reportedly facilitating these discussions.
These exploratory meetings are not directly linked to the recent turbulence in agricultural product pricing. ETG aims to use funds raised from a potential bond issuance to refinance existing debt and diversify its funding streams.
In 2022, ETG previously considered a $300 million five-year bond but ultimately decided against proceeding. The company reported annual revenues of $5.7 billion in documents from that period. ETG has also secured financing from development institutions, including a $110 million loan from the European Investment Bank last year and a $394 million facility in 2024.
