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Skye Bank Signs Novel $150 million Loan Agreement With 3 International Lenders
By Bloomberg on May 14, 2012
Skye Nigeria signed a $150 million five-year term-loan facility with African Export-Import Bank, Citigroup Inc. and Standard Bank Plc, who are the mandated lead arrangers and book-runners, according to a statement from Standard Bank, a unit of Johannesburg-based Standard Bank Group Ltd.
The loan is repaid and secured by “remittance flows” generated by Skye Bank through Western Union Co and is the first such transaction on a public basis in Nigeria, Standard said.
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