Stanbic IBTC Bank Limited series 1 Commercial Paper (CP) issuance of up to N50billion is now open with close and funding dates set for March 17 and March 19 respectively.
The CP issuance is under its N100 billion multi-currency commercial paper programme.
The proceeds from the offer will be used to support the bank’s short-term funding requirements, as part of its asset and liability management strategy for its banking operations.
The bank maintains its AAA rating by GCR, the highest possible corporate rating, reflective of its strong competitive position, earnings and cash flows which have supported a robust financial profile.
Read also: Stanbic IBTC Capital leads Presco N82.9bn bond issuance
The bank is also rated AAA by Fitch. The ratings further reflect Stanbic IBTC Bank’s experienced and dedicated management team, and its beneficial relationship with the Standard Bank Group.
Stanbic IBTC Bank offers its clients a wide range of commercial banking products through its 180 branches spread across every state in Nigeria, and via a range of self-service channels powered by sophisticated technology to bring convenient banking to clients.
The bank is also a key player in financial inclusion and is poised to take banking to the doorsteps of its clients in different personal and business categories who desire bespoke banking services.
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