GTBank Prepares $400m Notes Offer As Adefala Joins Board

By Nse Anthony-Uko
(Sundiata Finance) – The board of directors of Guaranty Trust Bank (GTBank) Plc has approved and appointed Mrs. Victoria Osondu Adefala as an independent non-executive director even as it the bank informed its holders of $400 million, six per cent notes due 2018 to tender any and all of their securities for purchase by GTBank.
In a notice signed by the company secretary of the bank, Erhi Obebeduo on the Nigerian Stock Exchange, yesterday said, “According to information provided by Lucid Issuer Services Limited, the tender agent for the offer, $400 million in aggregate principal amount of the securities were validly tendered before the expiration deadline and not withdrawn.
“The outstanding principal amount following the offer $276 million. No securities were tendered through the guaranteed delivery procedures described in the tender offer memorandum. The settlement date will be October 5, 2017.”
Meanwhile, the bank said, “Victoria Adefala is a seasoned professional with over 24 years’ work experience which cuts across the Financial, Manufacturing and Transportation Industry as well as the “legal profession, having worked with African Chamber of Commerce, Houston, Texas, Michelin Nigeria Limited and Alstom Nigeria.
“She was the country president and managing director of Alstom Nigeria up till 2016, when she set up the WHITGIFT Law firm, where she is the managing partner. She has served on the board of other reputable companies. “The approval of the Central Bank of Nigeria has been received for the said appointment.”

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