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Investor Watch: 8 Nigerian Banks Lend Total Plc $7.5billion

Nairametrics by Nairametrics
October 17, 2013
in Uncategorized
Investor Watch: 8 Nigerian Banks Lend Total Plc $7.5billion
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Total Plc

Guaranty Trust Bank Plc, Ecobank Nigeria, Zenith Bank, Diamond Bank, United Bank for Africa, Standard Chartered Bank, Access Bank and Fidelity Bank have all agreed to lend $7.5billion (N1.2tr) to Total Nigeria Plc.

According to Charles Ebereonwu the loan is “meant to finance local contractors and suppliers.” Details on how much each bank is set to disburse was not disclosed in the report neither was the interest rate nor tenor. I believe details will emerge sooner rather than later.

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Source: Businessday

Tags: banksNews ReviewNigeriaNigerian StocksOIl and Gas NewsTotal Nigeria Plc
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Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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