Guaranty Trust Bank (GTB) has launched a tender offer to repay a $500 million Eurobond early, a move to deploy its available Dollar liquidity ahead of the debt’s maturity, according to Channel.
The bank said the notes, priced to yield 7.5 per cent, were due to mature in May 2016 and the tender was voluntary.
It said in a tender notice that the bank would maintain cash to repay any outstanding debt not tendered.
The results of the tender offer will be announced on February 11.
