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Diamond Bank appoints HSBC, Stanchart for $300 mln Eurobond

By on November 19, 2012

Diamond Bank has appointed HSBC, Standard Chartered Bank and Renaissance Capital for its debut $300 million Eurobond issue planned for the second quarter of next year, a bank executive told Reuters on Friday.

Abdulrahman Yinusa, chief finance officer, said the lender would aim for a seven-year maturity for the bond to qualify as Tier 2 capital but that a decision on pricing and tenor will be reached based on market conditions closer to the issue time.

Access Bank, a rival Nigerian lender, issued a debut $350 million five-year Eurobond in July at a yield of 7.25 percent.

 

Source: Reuters