Diamond Bank turns to senior and Citi for debut

By Francesca Young
08 May 2014

Nigerian Diamond Bank has picked Citi to arrange a roadshow for a senior unsecured dollar bond, having failed twice before to print subordinated debt via two other sets of lead managers. The bank is expected to print a $300m five year senior note, according to a syndicate official away from the senior note.

In June last year Diamond Bank advertised tier two bonds via African Eximbank and BNP Paribas. The issuer at that time told GlobalCapital that the bank wanted to print up to $550m. The bank had previously mandated HSBC and StanChart in November 2012 for a $300m subordinated issue, ...

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