Thread: Skye Bank
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Old 11th December 2012, 09:39 AM
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Default Re: Skye Bank

Quote:
Originally Posted by kazeemy View Post
OK, sorry for the confusion. The convertible loan matures this year and there's no news of any conversion so far.

The new 150 million USD loan is to be repaid using the banks western union cash flow, looks like its not a bad deal at all...

Skye Bank of Nigeria Rises First Day in Six on Loan Deal - Businessweek

Additional info: They also borrowed another 100 million USD

Nigeria Skye Bank raises $100 million in bonds

so total this year is 250 million USD. Considering the current market condition, I think they probably don't have a better option for raising money but the idea is to invest in businesses that can withstand tough times without resorting to serial borrowings. The price is not bad though for their present mess.
at what interest rate were this loans issued
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