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FCMB says $70m IFC loan on track


September 30, 2010 12:58AM

First City Monument Bank said on Wednesday it is on track to securing a $70 million loan package from the International Finance Corporation (IFC), the World Bank’s private-sector arm.

Chief Executive Ladi Balogun told an investor conference the loans -- $50 million of straight debt and $20 million of convertible debt -- should be confirmed within the next few days.

Source: NEXT

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