When-Strenght-matters-728x90 (1)
Business & Finance

Access Bank Plan to Issue Fresh Eurobond

Airtel and Access Bank
nigeriana news app advert

Nigeria’s fourth-largest lender by assets will meet investors in the United States and Europe from Tuesday through October 3rd, and plans to sell five-year debsetups Chief Executive Officer, Herbert Wigwe told Bloomberg.

Barclays Plc, Citigroup Incorporated and JPMorgan Chase & Co would arrange the deal, he said.

“It will be for working capital, for lending to investment-grade names,” including Nigerian companies seeking to expand their exports, Wigwe said.

But he didn’t say how much Access Bank intends to raise.
It would be the first Eurobond out of Nigeria since October 2014, when oil company Seven Energy Finance Limited issued $300 million of securities. That year, Nigerian companies and banks including Access Bank, Zenith Bank Plc and FBN Holdings Plc sold $2.55 billion of dollar debt. The Nigerian government, which is planning to raise $1 billion this year, last tapped the Eurobond market in 2013.

ALSO READ:  Investors Warm To OPEC Deal As Oil Breaks Above $50 A Barrel

Access Bank, which has $12 billion of assets, has two deals outstanding; one of $350 million due in July next year and another of $400 million maturing in June 2021.

Make Money Online in Nigeria... Click HERE To Start Now!

To Top