Diamond Bank's $200m Eurobonds Get Global Acceptance

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Inaugural Diamond Bank’s Eurobond issuance exercise, with the printing of $200mn worth of bonds with a maturity of five years, has received warm and worldwide acceptance from investors.

The exercise, which was recently concluded, resulted into many stakeholders embracing the Diamond Bank brand, which is respected and known for spurning innovative ideas.  

Commenting on the successful completion of the road show with international fixed income investors, Group Managing Director/CEO of the Bank, Dr Alex Otti, noted that the Bank is pleased with the turn of events as it demonstrates a global acceptance of the efforts aimed as positioning the Bank as a market leader.

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“The successful issuance of the Eurobonds is yet another milestone in the growth trajectory of the Bank.

“Three years ago, we embarked on the task of transforming Diamond Bank into a leading player in the Nigeria Banking industry and having moved four positions from the 11th largest bank in terms of total assets size to 6th, we are quite convinced that we are on the right path.

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“The success of this Eurobonds issuance exercise has effectively launched Diamond Bank into the international market and we will continue to tap from this opportunity in a phased manner as the opportunities present themselves,” the Diamond Bank boss enthused.

The bank had recently announced its intention to meet with international fixed income investors on a road show with a target to raise between $200mn and $300mn.

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