Business & Loans
Access Bank Reports $500m Senior Unsecured Bond
Access Bank Reports $500m Senior Unsecured Bond
Access Bank has reported the complete pricing of a United States $500m senior unsecured Eurobond to provide medium-term funding and help enhance its capacity to support its general banking activities.
In a statement released to the Nigerian Exchange Limited and the investing public, the bank said the five-year unsecured note (144A/RegS) was oversubscribed by more than three times at $1.6bn on its order book.
Also read Full List of Banks in Nigeria With Their Contacts
The senior Eurobond is listed on the London Stock Exchange, matures in September 2026, and was issued with a yield and coupon of 6.125 percent with interest payable semi-annually in arrears.
Access bank stated that the transaction saw demand from investors from the United States, Europe, and the United Kingdom, Middle East, Asia, and Africa. Absa, Barclays Bank, JP Morgan, and Standard Chartered acted as joint book runners on the transaction. Chapel Hill Denham and Rand Merchant Bank acted as financial advisors and joint book runners.
The Group Managing Director, Dr. Herbert Wigwe said, “At Access Bank, we remain committed to our vision to become the world’s most respected African bank and Africa’s gateway to the world.”
Access Bank Reports $500m Senior Unsecured Bond
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