Access Bank floats five-year senior unsecured note

ACCESS Bank Plc is set to issue a five-year fixed rate senior unsecured note as part of its global medium term programme.

The dollar-denominated bond which was ready for launch September 11 2021 is subject to market conditions.

Access Bank with total asset of N8.680 trillion has been involved in massive acquisition drive across the continent in recent times and is looking for other means to raise funding, especially in light of its recent status as the biggest bank in Nigeria.

The company secretary, Sunday Ekwechi said Thursday that the bank listed Absa, Barclays, J.P. Morgan and Standard Chartered Bank to arrange investor meetings as joint bookrunners with Chapel Hill Denham and Rand Merchant Bank as financial advisers.

According to the lender, the size and yield of the Access Bank bond would be determined by demand.

The bank stated, “Access Bank Plc announces today on the Nigerian Exchange Limited that it has mandated Absa, Barclays, J.P. Morgan and Standard Chartered Bank as Joint Bookrunners and Chapel Hill Denham and Rand Merchant Bank as Financial Advisers and Joint Bookrunners to arrange a global investor call in addition to a series of fixed income investor calls commencing on September 11, 2021.

The issuance of a five-year fixed rare USD-denominated Regulation S/144A Senior Unsecured Note under the bank’s Global Medium Term Note Programme may follow subject to market conditions.

“Kindly note that this announcement is not being made in, and copies of it may not be distributed or sent into, the United States (except that it may be sent in the United States directly to qualified institutional buyers, as defined in rule 144a under the U.S. Securities Act of 1993, as amended (the ‘’Securities Act’’), Canada, Australia, Japan, Nigeria or any other jurisdiction where to do so would be unlawful. These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States.

The securities referred to herein have not been and will not be registered under the Securities Act, and may not be offered or sold in the United States or to U.S persons unless such securities are registered under the Securities Act or pursuant to an exemption from the registration requirements of the Securities Act. Recipients of this announcement may not forward this to any other person resident in Nigeria. Access Bank will not be liable for violation of Nigeria’s securities laws where a recipient forwards this announcement to other persons resident in Nigeria,” the bank added.


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