LAGOS, March 16 Nigerian banks are opposed to
converting the dollar portion of a $1.2 billion loan to Etisalat
Nigeria into naira and will push for an equity injection as part
of new terms after the mobile telecoms operator missed a
payment, a banker with knowledge of the negotiations told
The dollar portion of the loan is about $235 million, the
banking source said.
Etisalat Nigeria will meet with lenders on Thursday in a
debt discussion mediated by the central bank and the telecom
regulator after authorities agreed with local banks to end the
prospect of a receivership for the mobile operator.
(Reporting by Chijioke Ohuocha; editing by Jason Neely)