Diamond Bank Extends $550 Million Bond Issue to July

by Research 28. June 2013 10:44

Diamond Bank Plc said it expects to launch its proposed $550 million bond next month and hopes for a 10-year maturity.

The bank said that its roadshow ended without a deal yet.
Reuters quoted the bank’s Chief Finance Officer, Mr. Abdulrahman Yinusa to have revealed that the bank ended a two-week investor roadshow to Britain, Switzerland and the United States last week, which was meant to update fund managers on the bank and gauge appetite for the issue,

Yinusa said: "The issue as well as the pricing will happen some time in July. We have only done the roadshow," adding that the bank wanted to raise a maximum of $550 million.

Several emerging market borrowers, including Nigeria itself, have held roadshows in recent weeks, but the US Federal Reserve's talk of winding down its money-pumping programme has kept new issues to a minimum.

Yinusa said the bank had met Goldman Sachs and Fidelity fund managers, among other investors during the roadshow. The roadshow was arranged by lead managers for the bond, France's BNP Paribas and Afrexim Bank.
A banking source said two weeks ago that Diamond Bank wanted to issue the bond at a yield of 6-8 percent, mirroring the seven percent yield that rival lender Fidelity Bank had fetched on its $300 million Eurobond issue in May.

Depending on the pricing and tenor, Diamond could settle for an amount between $300 million and $550 million, Yinusa said, noting that it will issue a minimum maturity of seven-year in order for the bond to qualify as Tier II capital on its books.

In an investors' presentation prepared for the bond seen by Reuters, it said the proposed 10-year bond will be callable after five years and will be listed on the Irish Stock Exchange

Source: Thisday Live


News | News


19/04/2014 11:02:50 #


como hago para suibir paginas de excel? en mi blogger

phentermine United States

19/04/2014 11:13:48 #


There is no guarantee that a psychiatrist will ever prescribe xanax for you.  it depends on what the psychiatrist thinks about your issues and what the best treatment might be.  In any case, it would be very unlikely to be prescribed at a first visit unless your needs were very obvious.

viagra United States

19/04/2014 11:19:18 #

social network marketing strategy

Thank you for the sensible critique. Me and my neighbor were just preparing to do a little research on this. We grabbed a book from our local library but I think I learned better from this post. I'm very glad to see such magnificent information being shared freely out there..

social network marketing strategy United States

19/04/2014 11:25:21 #


love it ? bitch get my valium

cialis United States

19/04/2014 11:26:12 #


How to learn about politics? Will I ever be able to get involved in politics?

ambien United States

19/04/2014 11:27:23 #

buy viagra

Itching to know how this movie ends? You can watch it at? home! I'd been happy to discover that I could see  movies at no direct cost over the internet without the need to worry about anything. The web-site allows you to find what you want to see. Visit the url to see what I'm saying.. WatchTheseMovies.co­­m

buy viagra United States

19/04/2014 11:54:35 #

Classie Traner

How long should someone wait to drink? Long enough for the valium to wear off I'm sure, but how long is that?. Oh and I am talking about regular dosage, prescribed valium. Not recreational use.

Classie Traner United States

19/04/2014 11:56:23 #


Is it safe to take oxy elite pro with adipex?

xanax United States

19/04/2014 12:12:30 #


Don't take it too often. Or you'll become dependent.

phentermine United States

19/04/2014 12:29:43 #


I hate taking my pills too. Serious gag factor I understand.. . If the pill is to taken orally it means it meant to release in your gut, and distribute itself from there.. . It's best not to dissolve these pills, and definately not in soft drink/soda.  Ask your pharmacist/druggist for advice on an alternative.. . Maybe you can take it with a spoonful of jam/jelly/peanut butter?. . Me? I continue to gag. lol.

viagra United States

Add comment

(Will show your Gravatar icon)

  Country flag

  • Comment
  • Preview

Powered by BlogEngine.NET
Theme by Mads Kristensen



<<  April 2014  >>

View posts in large calendar