10 Dec 2009 07:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
This press release is an advertisement (within the meaning of the Rules and Regulations of the Securities & Exchange Commission (the "SEC Rules") and not a prospectus. It does not constitute an offer of securities to the public within the meaning of the Investments and Securities Act No. 29 of 2007. This communication is directed only at qualified institutional and high net worth investors as defined under Rule 78 (c) of the SEC Rules and other persons to whom it may lawfully be communicated (all such persons together being referred to as "Eligible Investors"). Any investment activity to which this communication relates will only be available to and will only be engaged in with, Eligible Investors. Any person who is not an Eligible Investor should not act or rely on this document or any of its contents.
Guaranty Trust Bank
("GT Bank" or "the Group")
GTBANK LAUNCHES 5-YEAR NAIRA-DENOMINATED FIXED RATE SENIOR BOND ISSUE
LAGOS, Nigeria, December 9, 2009 - The order book for the offering of 5-year Naira-denominated Fixed Rate Senior Unsecured Non-Convertible Bonds by Guaranty Trust Bank plc, one of Nigeria's leading financial institutions with subsidiaries in several countries in the West African sub-region and the United Kingdom, opened today and will close on December 16, 2009. The Bonds, which are rated Aa- by Agusto and Co. Limited, represent the first tranche offering under the Bank's N200 billion Debt Issuance Programme approved by the shareholders of the Bank in August 2009. The Programme and the Bond Issue have also received the "no objection" of the Nigerian Securities and Exchange Commission and the Central Bank of Nigeria.
The coupon rate and offer size of the Bond Issue will be determined upon completion of the book building process, which is being managed on behalf of the Bank by GTB Asset Management Limited, FBN Capital Limited and WSTC Financial Services Limited (collectively "Issuing Houses/Book Runners") and is solely targeted at institutional and high networth investors. An application shall be made to the Council of The Nigerian Stock Exchange for the listing and admission of the Bonds to the Official List upon completion of the book building. Settlement and issue of the Bonds are expected before the end of the year.
This offering, which is expected to enable the Bank significantly enhance its funding/lending capabilities, is the first Naira-denominated bond issue by the Bank. In January 2007, the Bank successfully issued US$350 million Eurobond Notes due 2012 in the international capital markets without the guarantee of either the Federal Government or any international financial institution.
9 December 2009
Interested Eligible Investors should kindly contact the Guaranty Trust Bank plc (01-8932502) or any of the underlisted institutions
| Issuing Houses/Book Runners | Stockbrokers to the Issue | ||
| GTB Asset Management Limited | GTB Securities Limited | ||
| FBN Capital Limited | F&C Securities Limited | ||
| WSTC Financial Services Limited | Signet Investments & Securities Limited | ||
| Stanbic IBTC Stockbrokers Limited | |||
| Placement Agents | |||
| Cardinal Stone Partners Limited | Afribank Nigeria Plc | First City Monument Bank Plc | |
| Futureview Financial Services Ltd | Associated Discount House Ltd | First Securities Discount House Ltd | |
| Kedari Capital Limited | Citibank Nigeria Limited | Stanbic IBTC Bank Plc | |
| Radix Capital Partners Limited | Consolidated Discounts Limited | Standard Chartered Bank Nig Ltd | |
| Ecobank Nigeria Plc | Union Bank of Nigeria Plc | ||
| First Bank of Nigeria Plc | Zenith Bank Plc | ||
Enquiries:
| GTBank | +234-1-2714591 |
| Lola Odedina, Head, Communications & External Affairs | |
| Pascal Or | |
| College Hill | +44 20 7457 2020 |
| Richard Pearson | |
| Peter Pantlin |
www.gtbank.com