March 16, 2017 / 12:12 PM / 4 months ago

Banks oppose converting dollar part of Etisalat Nigeria loan into naira -source

1 Min Read

LAGOS, March 16 (Reuters) - 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 Reuters.

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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below