Zenith Bank, Nigeria’s second largest lender is looking at selling USD500 million medium term notes.
The debt raising is part of the second tranche of its USD1 billion global debt programme which started with the selling of USD500 million in 2014.
Zenith Bank issued its intention to raise the second tranche. The note will be listed on the London Stock Exchange, where USD850 million worth of its shares. The bank said it will use the notes for general lending purposes.
Corporate information
Zenith Bank Plc was established in May 1990, and commenced operations in July of the same year as a commercial bank. The Bank became a public limited company on June 17, 2004 and was listed on the Nigerian Stock Exchange (NSE) on October 21, 2004 following a highly successful Initial Public Offering (IPO). Zenith Bank Plc currently has a shareholder base of about one million and is Nigeria’s biggest bank by tier-1 capital. In 2013, the Bank listed $850 million worth of its shares at $6.80 each on the London Stock Exchange (LSE).
