Nigeria’s Access Bank plans to seek shareholder approval this month to raise up to 100 billion naira ($505 million) in debt capital via a public offering or a private placement, the bank said on Monday.
The shareholder meeting on the proposed debt sale has been fixed for April 27.
Access Bank raised 41.7 billion naira last year through a rights issue to fund expansion of its branch network and lending. The amount raised was less than the 52.6 billion naira targeted, with analysts citing difficult market conditions.
Be the first to comment