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Access Bank appoints Barclays, JP Morgan, 4 other advisors for fresh 5-year debt issuance

By Oludare Mayowa

Nigeria’s Access Bank on Thursday said it has appointed six financial institutions as  joint book-runners and financial advisors to arrange a global investors engagement in preparatory to issue a 5-year in the international capital market.

In a regulatory filing on the Nigerian Exchange Group (NGX), the lender said it has appointed Barclays, J.P. Morgan, and Standard Chartered Bank as joint book-runners and Chapel Hill Denham & Rand Merchant Bank as financial advisors and joint book-runners for the purpose of preparing the market for raise unspecified amount US dollar denominated 5-year fixed rate note.

The debt issuance, according to the bank would be done under its global medium-term note programme.

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It however, said the process would be determined by market conditions after the global investor call and series of fixed income investors calls starting from September 11.

Details of the filing signed by Access Bank company secretary, Sunday Ekwochi reads: “Today, Access Bank Plc announced on NGX that it had mandated Absa, Barclays, J.P. Morgan, and Standard Chartered Bank as joint book-runners and Chapel Hill Denham & Rand Merchant Bank as financial advisors and joint book-runners to arrange a global investor call in addition to a series of fixed-income investor calls starting on September 11.

“The issuance of a 5-year fixed-rate USD-denominated regulation S/144A senior unsecured note under the Bank’s global medium-term note programme may follow, subject to market conditions.”

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