Etisalat Nigeria completes USD 1.2 billion financing deal

LAGOS: Etisalat Nigeria has signed a USD 1.2 billion medium-term syndicated loan facility with a consortium of banks. The company plans to use the proceeds to refinance the existing commercial medium-term debt of USD 650 million and continue its network rollout across Nigeria.

Etisalat NigeriaThe facility includes both Naira and US dollar tranches from a consortium of Nigerian banks including Zenith Bank, Guaranty Trust Bank, First Bank, United Bank of Africa, Fidelity Bank, Access Bank, Ecobank, Keystone Bank, First City Monument Bank, FSDH Merchant Bank, Mainstreet Bank, Stanbic IBTC Bank and Union Bank.

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