The electron-rich, double-base stabilized dihydrido-diborane(4) [HB(hpp)] (hpp=1,3,4,6,7,8-hexahydro-2H-pyrimido[1,2-a]pyrimidinate) combines two different, easily accessible reactive sites: the B-B and B-H bond. Herein, we report two basically similar reactions of [HB(hpp)] with catecholborane and B-chlorocatecholborane unsuspectedly resulting in two different reactivities. While reaction of the diborane with two equivalents of HB(cat) proceeded with formation of a cationic triborane with a (3c2e) bond, [{HB(μ-hpp)} (μ-BH )] , reaction with ClB(cat) led to hydride-chloride substitution yielding [ClB(hpp)] . The cationic triborane was also obtained by the addition of BH to the in situ generated [HB(hpp) B] . Proceeding from the new compound [ClB(hpp)] , we investigated its reactivity towards chloride abstraction with AlCl and GaCl . Irrespectively of the salt chosen, the reaction led to formation of a radical tricationic tetraborane [{B(hpp)} ] with a (4c,5e) bond. Moreover, the dichloro-diborane proves as a versatile reagent for further substitution cleanly reacting with the strong nucleophile nBuLi to a new dibutyl-diborane [nBuB(hpp)] .