Nigeria's Access Bank seeks approval for $500 mln debt sale

LAGOS (Reuters) - Nigeria's Access Bank plans to seek shareholder approval this month to raise up to 100 billion naira ($505 million) in debt capital via a public offering or a private placement, the bank said on Monday. The shareholder meeting on the proposed debt sale has been fixed for April 27. Access Bank raised 41.7 billion naira last year through a rights issue to fund expansion of its branch network and lending. The amount raised was less than the 52.6 billion naira targeted, with analysts citing difficult market conditions. ($1 = 198.00 naira) (Reporting by Chijioke Ohuocha; Editing by David Goodman)

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