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HomeTop NewsNigeria's Access Bank successfully priced $500 mln Eurobond at 9.12%

Nigeria’s Access Bank successfully priced $500 mln Eurobond at 9.12%

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Nigeria’s Access Bank said it has successfully priced its $500 million Eurobond for which it received over 200 percent subscriptions from investors above its initial offer.

In a regulatory filing, the bank stated that the 144A/Reg S Additional Tier 1 Eurobond was priced at a 9.125 percent yield with oversbscribe order book peaked at over $1 billion.

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.

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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, 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 $500 millio senior Eurobond, underscores the formidable confidence of a diversified range of global and local investors in the Access Bank strategy,” he said.

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