By Angela McDaniels
Tacoma, Wash., Dec. 30 - Guaranty Trust Bank plc issued 13.17 billion Nigerian naira of five-year senior unsecured bonds with a 13.5% coupon on Tuesday, according to a bank news release.
The bonds were issued at par and have been rated Aa- by Agusto and Co. Ltd.
GTB Asset Management Ltd., WSTC Financial Services Ltd. and FBN Capital Ltd. were the bookrunners.
The bank said it applied to list the bonds on the Nigerian Stock Exchange.
The bonds are the first naira-denominated bonds issued by the bank and make up the first tranche under its two-year, 200 billion naira debt issuance program.
The bank plans to continue to access the market in the foreseeable future, chief executive officer Tayo Aderinokun noted in the release.
When the Lagos, Nigeria-based bank announced plans for the bonds on Dec. 10, it said the offering will help it to enhance its funding/lending capabilities.
| Issuer: | Guaranty Trust Bank plc
|
| Issue: | Fixed-rate senior unsecured bonds
|
| Amount: | 13,165,000,000 naira
|
| Bookrunners: | GTB Asset Management Ltd., WSTC Financial Services Ltd. and FBN Capital Ltd.
|
| Maturity: | 2014
|
| Coupon: | 13.5%
|
| Price: | Par
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 29
|
| Rating: | Agusto and Co. Ltd.: Aa-
|
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