• Contact Us
  • About Us
Thursday, June 8, 2023
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
Home Banking

Access Bank raises US$300m Eurobond from international market

metro by metro
October 19, 2016
in Banking
0
Access Bank
0
SHARES
0
VIEWS
access-bank1Leading financial institution, Access Bank Plc has successfully raised US$300 million via a Eurobond from the international bond market.
 The bank recently accessed the international market to raise the bond with maturity date in October 2021, at a coupon of10.5%.
 This makes Access Bank the first Nigerian bank to raise bond from the international market this year, despite the country’s macro-economic headwinds. The   successful outcome   of   the   bond  also   demonstrates   the   strength,   resilience   and   international endorsement of Access Bank Plc.
 
Besides, industry analysts perceived the development as a show of support for the Federal Government’s efforts to attract foreign exchange into the country.
 
The bank currently has two series of Eurobonds in issue – the $350 million maturing in July2017 at a coupon of 7.25% and the $400 million (9.25%), June 2021 maturity date as part of a US$1 billion global medium term note programme.
 
Commenting on the development, Herbert Wigwe, Group Managing Director/CEO of Access Bank, said, “the bond will be for working capital, for lending to investment-grade names, including Nigerian companies seeking to expand their exports.”
 
He emphasised that the process signifies a significant moment on the bank’s journey to entrench itself as one of Nigeria’s top three banks by 2017. “It also ensures that we keep our promise of speed, service and security to our customers as we target Africa’s fastest-growing industrial sectors,” he added.
 
Access Bank is now one of the top three banks in Nigeria and ranked among the top 500 global banks, according to a 2015 report by The Banker magazine, and is aiming to be Africa’s top bank.
 
The bank recently won Best Branch Automation Project in the 2016 Asian Banker Awards; 2016 Karlsruhe Outstanding Business Sustainability Award; 2016 Euromoney Africa’s Best Bank Transformation Award and the EMEA Finance ‘Best Bank of the Year’ and CEO of the Year.
 
The bank currently serves over seven million individual and corporate account holders, through 370 branches and with more than 1,500 ATMs in major centres across Nigeria, Sub-Saharan Africa, the Middle East, the UK and representative offices in Asia.

Read Also

Disquiet In Polaris Bank Over Alleged Violation Of Workers’ Rights , Salary Disparity

Diaspora Nigerians Seek CBN’s Intervention In Alleged Banks’ ‘Refusal’ To Link Accounts To BVN

Fidelity Bank In Record 113% Profit Growth, Declares 50k Dividend For 2022 Financial Year

Previous Post

Inter-bank rates, naira strengthens on improve liquidity

Next Post

Apapa road: Chaos as okada rider narrowly escapes death   

Related Posts

Court Orders CBN To Freeze Polaris Bank Account
Banking

Disquiet In Polaris Bank Over Alleged Violation Of Workers’ Rights , Salary Disparity

June 7, 2023
Diaspora Nigerians Seek CBN’s Intervention In Alleged Banks’ ‘Refusal’ To Link Accounts To BVN
Banking

Diaspora Nigerians Seek CBN’s Intervention In Alleged Banks’ ‘Refusal’ To Link Accounts To BVN

May 26, 2023
Fidelity Bank In Record 113% Profit Growth, Declares 50k Dividend For 2022 Financial Year
Banking

Fidelity Bank In Record 113% Profit Growth, Declares 50k Dividend For 2022 Financial Year

April 27, 2023
For Capital Needs Supplement, Access Holdings Injects $300m Into Access Bank
Banking

With Strong Net Interest Income, Access Holdings Plc Reports Gross Earnings Of ₦1.4Tn For FY 2022

April 20, 2023
Next Post
Apapa roads collapse as FG, Lagos look away

Apapa road: Chaos as okada rider narrowly escapes death   

Auto Draft

Anger As MD Nigeria Air Confirms Aircraft Used For ‘Unvailing’ Was Chartered Flight From Ethiopian Airlines

June 7, 2023

Trafficking in the Sahel: Gas lighting

June 7, 2023
Subsidy Withdrawal: Abiodun Meets Labour  Leaders, Mulls Palliatives For Workers

Subsidy Withdrawal: Abiodun Meets Labour  Leaders, Mulls Palliatives For Workers

June 7, 2023
ADVERTISEMENT
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version