Stanbic IBTC Holdings Seeks Shareholder Approval for N400 Billion Debt Programme

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At the upcoming 12th Annual General Meeting of Stanbic IBTC Holdings Plc on May 16 in Lagos, the directors will seek approval from shareholders to establish a Debt Issuance Programme of up to N400 billion or its foreign currency equivalent.

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According to a notice on the Nigerian Exchange Limited (NGX), the directors aim to issue various forms of debt securities, including senior unsecured or secured, subordinated, convertible, preferred, equity-linked, or other debt obligations. This issuance will be conducted through methods such as public offering, private placement, or additional tier one or tier two capital raising.

The Directors will also request approval to enter into necessary agreements and appoint professional parties to facilitate the Programme, ensuring compliance with regulatory directives.

Additionally, shareholders will be asked to approve raising additional equity capital of up to N150 billion through a Rights Issue or offer for subscription, subject to terms and conditions determined by the Directors.


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Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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