Lagos - First Bank has joined the league of Nigerian banks that have successfully raised funds from the Eurobond market in 2014.
The bank on Sunday issued a $450 million tier-2 Eurobond with a 8.25 percent yield to maturity.t reports ThisDay.
The bond has a five-year senior unsecured Eurobond with a coupon of 8 per cent.
With the issuance, the amount of funds raised by Nigerian banks from the Eurobond market in 2014 now stands to N1.550 billion. Zenith Bank, Diamond Bank and Access Bank, had raised a total of N1.1 billion from the dollar-denominated debt market in the first half of the year.
Read more at ThisDay.
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