Stanbic Nigeria raises loan, African FIs remain hot
Stanbic IBTC Holdings, the Nigerian subsidiary of Standard Bank, has raised a loan of $150m from a consortium of international lenders, according to bankers. A number of African banks have come to market over the last 12 months, defying economic and country-specific risks to achieve attractive terms on their financing, a trend that is likely to continue.
The deal was closed at around $150m, according to two bankers near the deal. Mashreqbank was sole arranger on the deal, according to one banker, with a number of international banks also joining the deal.
Banks are being tipped to enjoy better financing in the loan market this year."I'd ...