November 16, 2012 / 4:11 PM / in 5 years

Nigeria Diamond Bank appoints HSBC, Stanchart for $300 mln Eurobond

LAGOS, Nov 16 (Reuters) - Nigerian lender 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.

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