Home Business Capital Access Bank Issues Tier II N30bn Local Bond
Capital

Access Bank Issues Tier II N30bn Local Bond

Share
Share

To further strengthen its funding base, Access Bank has successfully issued a Tier II N30 billion Fixed Rate Subordinated Unsecured Bond. The bond was oversubscribed which further buttresses the confidence investors repose in the Bank. 

The Bond has a maturity of 7 years and is callable after 5 years.

The Issuing Houses are Chapel Hill Denham Advisory Limited, being the mandated Lead Issuing House and Coronation Merchant Bank Limited and First-Ally Capital Limited, being the mandated joint Issuing House.

Commenting on the Bond, group managing Director/CEO, Herbert Wigwe said, “We are a Bank with a rigorous and disciplined capital plan and the action taken today is in line with our 5-year strategic plan. This is to ensure a strong capital buffer at all times and support our low risk appetite. Following the merger, we identified some synergies and combined with this issue, we are confident of our capacity to attain the next level of being a more efficient Bank.”

Currently, Access Bank is the Number 1 bank in Africa by customer base with integrated global franchise, strategically developing its presence in key African markets and enhancing collaboration in global financial gateways including London, New York, Asia and the Middle East. 

The Bank is also consolidating its trade hubs in India, Dubai and China, positioning to be Africa’s Gateway to the World.

Share

Businesstoday Magazine

Businesstoday Conference/Awards

Related Articles

Stanbic IBTC Asset Management Launches Anti-Scam Campaign To Protect Mutual Fund Holders

Stanbic IBTC Asset Management has implemented strong measures to safeguard its customers...

MTN Nigeria Raises N75.18Bn Via Commercial Paper Issuance

MTN Nigeria Communications Plc has announced the successful completion of its Series...

Stanbic IBTC Clinches Multiple Awards At The 2024 FMDQ Gold Awards

Stanbic IBTC Clinches Multiple Awards At The 2024 FMDQ Gold Awards  ...

Access Holdings Reports 82.8% Growth In Q3 PAT To ₦457.7 billion

*As Total Assets Hit To ₦41.1 Trillion   Access Holdings Plc, one...