Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Company News

Skye Bank to borrow N100billion 3 months after paying over N120b for Mainstreet Bank

Nairametrics by Nairametrics
March 25, 2015
in Company News, Spotlight
Skye Bank to borrow N100billion 3 months after paying over N120b for Mainstreet Bank
Share on FacebookShare on TwitterShare on Linkedin

Skye Bank Plc, announced it will sell as much 100 billion naira ($500 million) of debt to improve its liquidity.

The bank will start with a 20 billion naira, 90-day bond that will be offered to domestic institutional investors in a sale closing March 27, Chief Executive Officer Timothy Oguntayo told reporters in Lagos, the commercial capital, on Tuesday.

“It is one way the bank will boost liquidity other than deposits,” Oguntayo said. “Liquidity remains a challenge to the banks due to tight regulatory requirements such as the increase in public and private sector cash-reserve ratios.”

RelatedPosts

Zenith Bank Plc announces retirement of Non-Executive Directors

Wema Bank to begin N40 billion rights issue in August

Skye, which has $6.8 billion of assets, joins Nigerian lenders including Access Bank Plc in raising capital amid measures imposed by the Central Bank of Nigeria to bolster the naira. The central bank last year increased lenders’ cash-reserve requirement for public sector deposits to 75 percent from 50 percent and private sector deposits to 20 percent from 15 percent.

The yield on Skye’s initial debt sale will probably be 75 basis points to 100 basis points above similar-maturity government debt, said Oguntayo. Yields on Nigeria’s three-month Treasury bills fell 96 basis points to 14.21 percent on Monday, according to data compiled by Bloomberg.

Last year, this website analysed how Skye Bank will able to raise enough capital to pay for the acquisition of Mainstreet Bank. The bank raised eyebrows after it raised capital without any significant raise. Skye Bank is yet to release its 2014 Annual report

Source: Bloomberg/Nairamterics

 

Related

Tags: News ReviewSkye Bank

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Look no Further Than GreenWaveX
    • FUGAZ investors gain N25 billion combined during the week
    • Top five things buyers should know when purchasing land in Africa

    Follow us on social media:

    Recent News

    Look no Further Than GreenWaveX

    Look no Further Than GreenWaveX

    July 2, 2022
    Profit-taking in FUGAZ stocks weigh down the NGX, taking the Market Cap to N21.91 trillion,

    FUGAZ investors gain N25 billion combined during the week

    July 2, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com