In a statement signed by its Company Secretary, Sunday
Ekwochi, the bank revealed that the 144A/Reg S Additional Tier 1 Eurobond was
priced at a 9.125 per cent yield with the coupons peaking over $1bn.
The eurobond which was issued under the bank’s medium-term
note programme is a Basel III compliant Perpetual Non-Call 5.25-year subscribed
note to be listed on the London Stock Exchange.
The eurobond may be called anytime from October 7, 2026,
subject to conditions including the Central Bank of Nigeria’s approval, Access
Bank said.
The Group Managing Director, bank, Dr Herbert Wigwe, said
that the transaction significantly enhanced Access Bank’s tier 1 and total
capital ratios, and provided significant room for growth and execution of its
strategic objectives.
“This issuance on the back of our recently concluded $500m
senior Eurobond, underscores the formidable confidence of a diversified range
of global and local investors in the Access Bank strategy,” he said.