Access Bank Issues Tier II N30 billion Domestic Bond

Must Read

- Advertisement -

To moreover extend its funding post, Access Bank Plc at the weekend declared that it had strongly dispensed a Tier II N30 billion fixed rate subordinated unsecured bond. The bond was oversubscribed, which according to a report from the bank, additionally supported the confidence investors reposed in it.

The bond has a maturity of seven years and is callable after five years.

The Issuing Houses were Chapel Hill Denham Advisory Limited, as 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, the Group Managing Director/CEO, Access Bank, Herbert Wigwe was quoted to have said: “We are a Bank with a rigorous and disciplined capital plan and the action is taken today is in line with our 5-year strategic plan.

- Advertisement -

“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 one bank in Africa by customer base with an 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.

- Advertisement -
spot_imgspot_img

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Read Also:  Tourism Ministry set to Hold First Digital Party with DJ Jimmy Jatt

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

FDA Seeks Public Comments On PMI Application To Market IQOS 3 As Modified Risk Tobacco Product-Brand Spur Nigeria

FDA Seeks Public Comments On PMI Application To Market IQOS 3...

The U.S. Food and Drug Administration (FDA) today opened a public comment period on Philip Morris International’s (PMI--NYSE: PM) application seeking authorization to market the IQOS 3 electrically heated tobacco system...
- Advertisement -
spot_imgspot_img

Latest News

FDA Seeks Public Comments On PMI Application To Market IQOS 3 As Modified Risk Tobacco Product

The U.S. Food and Drug Administration (FDA) today opened a public comment period on Philip Morris International’s (PMI--NYSE: PM) application seeking authorization to...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -spot_imgspot_img