Access Bank Seeks Approval For $500m Debt Sale | Independent Newspapers Limited
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Access Bank Seeks Approval For $500m Debt Sale

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Posted: Apr 5, 2016 at 3:00 am   /   by   /   comments (0)



Access Bank plans to seek shareholder approval this month to raise up to N100 billion ($505 million) in debt capital via a public offering or a private placement, the bank said on Monday, reports Reuters.

The shareholder meeting on the proposed debt sale has been fixed for April 27.

Access Bank raised N41.7 billion last year through a rights issue to fund expansion of its branch network and lending.

The amount raised was less than the N52.6 billion targeted, with analysts citing difficult market conditions.