Access Holdings gets approval to acquire Sigma Pensions Ltd
Access Bank

OBINNA EZUGWU

Nigeria’s biggest bank by assets base, Access Bank Plc, has announced plans to issue additional 5-Year USD denominated Tier 1 Eurobond, in furtherance of its Global Medium-Term Note Issuance Programme.

Access Bank, which currently has presence in 11 African countries and announced the development in a statement by its Secretary, Sunday Ekwochi, said it will be organizing a global investor call and series of fixed income investor calls.

The global investor call slated for 27th of September 2021, the bank said, will be hosted by Citi, J.P. Morgan, Renaissance Capital and Mashreqbank (Joint Bookrunners of the deal) in collaboration with Chapel Hill Denham and Coronation Merchant Bank (Financial Advisers of the deal).

The latest issue comes on the heels an earlier issued a $500 million unsecured Eurobond, part of its Global Medium-Term Note Issuance Programme, which drew interest from top-grade investors globally and was oversubscribed 3X, making it the highest orderbook for a Nigerian bank Eurobond transaction.

In the statement posted on the website of the Nigerian Exchange Limited (NGX), the bank said it will further consolidate on its success by issuing a new 5-Year USD-denominated Regulation S/144A Tier 1 bond.

The statement said, ‘’Access Bank Plc (‘’Access Bank’’ or the ‘’Bank’’) announces today on the Nigerian Exchange Limited that it has mandated Citi, J.P. Morgan, Renaissance Capital and Mashreqbank as Joint Bookrunners and Chapel Hill Denham and Coronation Merchant Bank as Financial Advisers and Joint Bookrunners to arrange a global investor call on 27 September 2021 at 2PM UKT/9 AM NYT in addition to a series of fixed income investor calls.

“The issuance of an inaugural Basel III-based perpetual Non-Call 5.25-year benchmark USD-denominated Regulation S/144A Additional Tier 1 bond offering under the Bank’s Global Medium-Term Note Programme may follow, subject to market conditions.’’

 

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