LAGOS May 14 Nigeria's Union Bank said
on Wednesday it will seek shareholders' approval in June to
raise up to $750 million in a medium-term debt instrument to
fund big ticket lending to the oil, power and telecom sectors.
Union Bank has been transforming its image after new
investors recapitalised the lender three years ago following a
central bank rescue of the institution in 2009.
"Union Bank has ramped up lending to key sectors ... which
requires large foreign currency funding," the lender said in a
It said Union Bank was not looking to raise equity.
(Reporting by Chijioke Ohuocha; editing by Oludare Mayowa and