By InvestAdvocate

Lagos (INVESTADVOCATE)-Custodian & Allied Insurance Plc Wednesday announced that it has partnered the International Finance Corporation (IFC), a member of the World Bank Group on a $12.5 million Convertible Loan Stock with a Coupon rate of 4.5 percent (4.5%).

The Company said this in a Notice to the Nigerian Stock Exchange (NSE) and made available to www.investadvocateng.com in Lagos Nigeria.

According to Custodian & Allied Insurance, the partnership with IFC is to assist it in its growth and expansion plans through Acquisitions and Mergers.

“Custodian and Allied Insurance has notified The Exchange that it will be entering into agreement with International Finance Corporation (IFC), a member of the World Bank Group to assist the company in its growth and Expansion plans through Acquisitions and Mergers.

The agreement is for $12.5 million convertible loan with a coupon rate of 4.5%. Custodian and Allied Insurance Plc. consider the agreement beneficial to the company and its shareholders” the Notice said.