Access Bank Redeems $350m Eurobond

By Nse Anthony-Uko
(Sundiata Finance) – Access Bank plc has announced the final redemption of the $350 million Eurobond notes due July 25, 2017.
The securities were issued in 2012 by Access Finance B.V, a direct, wholly owned subsidiary of the bank – on the back of an unconditional and irrevocable guarantee of the bank.
In October 2016, holders of $113 million of this note elected to exchange same for a new 5-year bond issued by the bank at the time.
Upon maturity of the Eurobond in July 2017, the outstanding portion of $237,003,000 as well as the final coupon value of $8,698,010.00 was redeemed from the bank’s available cash reserves.
Access Bank has continued to maintain a robust balance sheet, supported by its strong liquidity position.
The implementation of a disciplined capital and liquidity plan ensured that the bank was proactive and focused in raising capital in the international market.
Key successful Eurobond transactions from the market include: $350 million (2012), $400 million Subordinated Notes and the $300 million Senior Notes comprising $113 million exchange and $187 million new notes (2016).

Leave a Reply

Your email address will not be published. Required fields are marked *


Sundiata Post Media Ltd.

Address: 3rd Floor Office Suite, Bayelsa State Guest House, Plot 1038, Shehu Shagari Way, Maitama, Abuja, Nigeria.
Tel: +234(0)92900705, +234(0)8173460599
Whatsapp: +234(0)8053069436
BBM PIN: 5619150D

Enugu Regional Office: SW 1 New Haven Shopping Mall, Enugu, Enugu State, Nigeria.
Tel: +234(0)7062582838

London Office: 18 Belgrave Avenue, Wd18 7UE, Watford, United Kingdom.
Tel: +447417554143

Washington Office: 1245 Delafield PI NE, Washington DC 20017, USA.
Tel: 0092404216156
About Us

SundiataPost is published by Sundiata Post Media Limited, Sundiata Post is Nigeria’s most authoritative online newspaper and ranks among the top five online news platforms in Nigeria.

Guild of Corporate online publishers
A Glance at Our Advert Rate.

Inside Pages

Size In Pixels - Amount

120×180 - N27,967.50

300×100 - N24,695

Text Link - N11,275

More Details info

About Us | Contact Us | Privacy Policy | Terms of Use | Advert Rate