Sterling Bank to sell PP by end of Q1
Sterling Bank plans to raise $120m with a private placement by the end of Q1 2014, according to a funding officer at the bank. The Nigerian lender will follow the deal up with a multi-currency tier two deal by the end of the year.
“We are in the process of concluding our private placement,” said the funding official. “Investors have been approached and the note will be sold before the end of the first quarter.”
The bank also plans to print a $200m tier two multi-currency note. The deal will be partly
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