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GT Bank plans $500mln 5-yr bond, upgrades IT infrastructure

Guaranty Trust Bank is planning to launch a $500 million five-year bond, with price talk at a yield of 7.75 per cent, banking sources said on Thursday.

Lead managers are JPMorgan and Morgan Stanley, sources added. GT issued a $350 million bond in 2007 which matures in January 2012. The bond has a coupon of 8.5 per cent and is yielding 4.8 per cent.

In another develeopement, Acting Managing Director of the bank, Mr. Segun Agbaje announced on Thursday the bank’s latest investment in Information Technology aimed at enhancing the quality of its service delivery and alternative channels.

Agbaje in his statement said: “Conscious of our reputation as a listening bank, we have always sought new ways to serve our customers better. Operationally, these efforts centre on providing convenient and affordable services, without compromising quality. Many times, this has entailed the introduction of cutting-edge technology to ensure our customers can access banking service comparable with what is obtainable internationally. It is in this vein, that we recently migrated to a new technology platform called the Superdome server. This enterprise upgrade had been carefully planned with the aim of improving our service delivery in line with projected growth in our customer base.

Unfortunately, this project may also have caused some inconveniences to our customers who have remained loyal and supportive over time. We, however, assure that the rewards and dividends will be reaped in the form of more secure, stable and efficient banking services.

“For over 10 years, the Superdome – HP’s flagship, high-end Integrity server – has powered some of the world’s most demanding, mission-critical environments and is suited as the solution of choice for enterprise-class customers who require high availability, rich virtualization capabilities, and long-term investment protection.

Widely recognised as an industry leader in Nigeria, Guaranty Trust Bank is accredited with such innovations as the introduction of online banking in 1990, the first fully interactive service contact centre, GT Connect in 2006, and the introduction of the first Naira Denominated MasterCard in 2009. The Bank was adjudged as the Most Customer Focused Bank by KPMG in 2010, the ‘Best ICT Support Bank’ at the 2010 Nigerian Information Technology Merit Awards and the ‘2010 Best Bank in Nigeria’ by Euromoney Finance and The Banker Magazine.


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