International Finance Corp (IFC) has lent $175 million to Guaranty Trust Bank (GT Bank) which it expects to use to expand its loan book.
The loan comprises of $100 million for IFC’s own account and $75 million through an IFC managed co-lending portfolio. GT Bank in its 2014 Annual report recorded an amortized Eurobond Facility of about $897million made up of USD 500,000,000 (principal) note that was issued in May 2011 for a period of 5 years at 7.5% per annum payable semi-annually while the second tranche of 400,000,000 (principal) was issued in November 2013 for a period of 5 years at 6% .
GTB share price was trading at N21.64 as at 2.25pm Tuesday.
