May 12, 2011 / 4:28 PM / 6 years ago

Nigeria's GT Bank plans $500mln 5-yr bond-sources

LONDON, May 12 (Reuters) - Nigeria's Guaranty Trust Bank (GUARANT.LG) is planning to launch a $500 million five-year bond, with price talk at a yield of 7.75 percent, banking sources said on Thursday.

Lead managers are JPMorgan and Morgan Stanley, sources added.

GT issued a $350 million bond in 2007 which matures in Jan 2012. The bond has a coupon of 8.5 percent and is yielding 4.8 percent. NL028475063=

Nigeria issued a $500 million debut Eurobond earlier this year. The 10-year bond is yielding 6.1 percent. 65412AAA0=

Reporting by Chijioke Ohuocha, Sujata Rao and Carolyn Cohn

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below