NAIRA LINE OF CREDIT TO FRB SUBSIDIARY, RAND MERCHANT BANK NIGERIA LIMITED


Overview

  • Reference: P-NG-HAB-022
  • Approval date: 12/12/2012
  • Start date: 17/07/2014
  • Appraisal Date: 13/12/1901
  • Status: OngoingOnGo
  • Implementing Agency: Rand Merchant Bank Nigeria Limited
  • Location: Nigeria

Description

To provide a medium-term, multi-currency line of credit of up to the equivalent of USD 300 million ("the Facility") to FirstRand Bank Limited ("FRB" or "the Borrower"), which is a wholly-owned subsidiary of the South Africa based FirstRand Limited ("FirstRand" or "the Group"). The proceeds of the Facility will be used for funding projects in a number of sectors and across a number of African countries.


Key contacts

ANSAH Dennis - OPSD4


Costs

Finance source Amount
ADBNGN 67,508,439
DeltaNGN 45,561
TotalNGN 67,554,000