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.
Leading bank seeks approval for $500 mln debt sale
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.
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