March 29, 2017 / 2:09 PM / 4 months ago

Stanbic IBTC Bank says has $24 mln exposure to Etisalat Nigeria

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LAGOS, March 29 (Reuters) - The Nigerian arm of South Africa's Standard Bank, Stanbic IBTC Bank, has an exposure of $24 million to Etisalat Nigeria, it said on Wednesday, adding restructuring talks were "ongoing".

The Nigerian arm of Abu Dhabi-listed telecoms company Etisalat has been discussing with 13 local banks about renegotiating the terms of a $1.2 billion loan after missing a payment.

"The members are continuing discussions with Etisalat with the hope of restructuring the loan," the bank told an analysts' call. (Reporting by Chijioke Ohuocha; Editing by Mark Potter)

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