Fidelity Bank and FCMB lead Nigerian loan charge

By Dan Alderson
30 Oct 2014

Loans bankers’ predictions of a rush of Nigerian loans before the end of the year began to take shape this week, with Fidelity Bank looking for a two year loan and First City Monument Bank saying it had signed a deal with several tranches and lenders.

Lagos-based Fidelity could pay a margin somewhere between the high 4% and low 5% area, said a banker away from the deal. Citi, Commerzbank and Standard Chartered are leading the loan, which appears to be new money rather than a refinancing.

Fidelity is one ...

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