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Home Business News

Brief: Wema Bank Plans N20bn Bond Issue This Month

mudeerat olawunmi by mudeerat olawunmi
August 2, 2016
in Business News
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Wema Bank Plc, which aims to expand its branch network this year, is planning to issue N20bn ($63m) in bond this month, its Chief Finance Officer, Mr. Tunde Mabawonku, has said.

The bank is issuing local currency bonds after scrapping plans last year to issue a $100m seven-year dollar bond because of currency risks.

“We expect to open in a couple of weeks. We are awaiting final regulatory approvals and we expect to conclude the process this quarter,” Mabawonku told Reuters by telephone. Punch

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mudeerat olawunmi

mudeerat olawunmi

Mudeerat Olawunmi is a graduate of Business Administration with over 5 years experience in online data gathering and analysis. Wunmi is a data analysts at Nairametrics and helps ensure that our readers get some of the most important macro and micro economic data required to help make investing decisions.

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