Diamond Bank Appoints BNP Paribas, Afrexim to Market its Bond

Diamond Bank Plc has appointed France’s BNP Paribas and Afrexim Bank to lead an investor road show to Europe, the United States and Asia for a Eurobond that could go up to $550 million.

The bank said in April it planned to raise $550 million in debt or equity to expand its lending operations this year.

The Chief Financial Officer, Diamond Bank, Abdulrahman Yinusa, said the bank would use funds from the debt issue to increase lending to the oil and gas, power and infrastructure sectors in Nigeria.