Sterling Bank Plc has announced plans to raise up to $400 million in capital through a range of financing options, including debt instruments and equity offerings.
The move comes after the bank’s 2nd Annual General Meeting, held virtually, where shareholders approved the capital raise to strengthen the institution’s growth capacity and balance sheet.
In a corporate statement signed by Adeyoola Temple, the Company Secretary, Sterling Bank revealed that the capital will be raised through the creation of a Shelf Programme, allowing the bank to issue financial instruments in tranches or series over a defined period.
