Access Holdings Plc is pleased to announce that its banking subsidiary – Access Bank Plc- (‘the Bank’) (rated ‘B’ stable outlook by Fitch and ‘B2’ negative outlook by Moody’s)-a leading full service Nigerian commercial bank with presence in 17 countries has successful priced a US$50 million Reg S Step-Up Green Notes due 2027 in the international capital market via a private placement. This US Dollar offering represents the second Green Bond issuance by Access Bank, following its debut Naira Green Bond issuance in 2019.
The Step-Up Puttable Green Bond is a 5-year Senior Unsecured Note (Reg S) under Access Bank’s US$1.5 billion Global Medium-Term Note Programme and is listed on the main market of the London Stock Exchange. The Green Bond matures in May 2027 with an investor put option, commencing May 2024. The Green Bond was issued with a coupon of 5.50% in the first two years and then steps up (on the put option date) to 7.25% in the last 3 years to maturity, with interest payable semi-annually in arrears. This innovative structure enabled the Bank to achieve an attractive pricing, with a blended average cost of funding below fair value, amidst the rising and volatile interest rate environment.
The net proceeds from the issuance of the Green Bond, will be used by the Bank for the financing or refinancing, in part or in full, new and/or existing projects and/or assets meeting the eligibility criteria set out in the Bank’s Green Financing Framework dated 18 November 2021, on which S&P Global Ratings has provided a second party opinion.
On this Green Bond issuance, the Bank’s Managing Director/CEO, Mr. Roosevelt Ogbonna, said “Our vision at Access Bank remains to be the World’s Most Respected African Bank and Africa’s Gateway to the World as we strive to do so in a sustainable way. This US$50 million 5-Year Step-Up Puttable Green Bond represents another milestone for the Bank and is a testament to our culture of global collaboration and innovation as we extend the frontiers of financial services across the continent.
Also commenting on the issuance, Chief Risk Officer, Dr. Gregory Jobome said: “Access Bank’s successful second Green Bond issuance in 3 years demonstrates our strong commitment to the Environmental, Social and Governance principles embedded in our mission, and we look forward to continually delivering on our sustainability objectives”.
Standard Chartered acted as Sole Arranger and Sustainability Structuring Agent on the transaction.
SUNDAY EKWOCHI
COMPANY SECRETARY
Cookie | Duration | Description |
---|---|---|
__hssrc | session | This cookie is set by Hubspot. According to their documentation, whenever HubSpot changes the session cookie, this cookie is also set to determine if the visitor has restarted their browser. If this cookie does not exist when HubSpot manages cookies, it is considered a new session. |
cookielawinfo-checkbox-advertisement | 1 year | The cookie is set to record the user consent for the cookies in the category "Advertisement". |
cookielawinfo-checkbox-analytics | 11 months | This cookie is set to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Cookie | Duration | Description |
---|---|---|
__hssc | 30 minutes | This cookie is set by HubSpot. The purpose of the cookie is to keep track of sessions. This is used to determine if HubSpot should increment the session number and timestamps in the __hstc cookie. It contains the domain, viewCount (increments each pageView in a session), and session start timestamp. |
bcookie | 2 years | This cookie is set by linkedIn. The purpose of the cookie is to enable LinkedIn functionalities on the page. |
lang | session | This cookie is used to store the language preferences of a user to serve up content in that stored language the next time user visit the website. |
lidc | 1 day | This cookie is set by LinkedIn and used for routing. |
Cookie | Duration | Description |
---|---|---|
__hstc | 1 year 24 days | This cookie is set by Hubspot and is used for tracking visitors. It contains the domain, utk, initial timestamp (first visit), last timestamp (last visit), current timestamp (this visit), and session number (increments for each subsequent session). |
_ga | 2 years | This cookie is installed by Google Analytics. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. The cookies store information anonymously and assign a randomly generated number to identify unique visitors. |
_ga_7830NTLLXS | 2 years | This cookie is installed by Google Analytics. |
_ga_8FT0WQ6XG7 | 2 years | This cookie is installed by Google Analytics. |
_gat_UA-199321007-1 | 1 minute | This is a pattern type cookie set by Google Analytics, where the pattern element on the name contains the unique identity number of the account or website it relates to. It appears to be a variation of the _gat cookie which is used to limit the amount of data recorded by Google on high traffic volume websites. |
_gcl_au | 3 months | This cookie is used by Google Analytics to understand user interaction with the website. |
_gid | 1 day | This cookie is installed by Google Analytics. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form. |
hubspotutk | 1 year 24 days | This cookie is used by HubSpot to keep track of the visitors to the website. This cookie is passed to Hubspot on form submission and used when deduplicating contacts. |
Cookie | Duration | Description |
---|---|---|
_fbp | 3 months | This cookie is set by Facebook to deliver advertisement when they are on Facebook or a digital platform powered by Facebook advertising after visiting this website. |
bscookie | 2 years | This cookie is a browser ID cookie set by Linked share Buttons and ad tags. |
fr | 3 months | The cookie is set by Facebook to show relevant advertisments to the users and measure and improve the advertisements. The cookie also tracks the behavior of the user across the web on sites that have Facebook pixel or Facebook social plugin. |
IDE | 1 year 24 days | Used by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. This is used to present users with ads that are relevant to them according to the user profile. |
test_cookie | 15 minutes | This cookie is set by doubleclick.net. The purpose of the cookie is to determine if the user's browser supports cookies. |
VISITOR_INFO1_LIVE | 5 months 27 days | This cookie is set by Youtube. Used to track the information of the embedded YouTube videos on a website. |
YSC | session | This cookies is set by Youtube and is used to track the views of embedded videos. |
Cookie | Duration | Description |
---|---|---|
AnalyticsSyncHistory | 1 month | No description |
CONSENT | 16 years 6 months 1 day 12 hours | No description |
li_gc | 2 years | No description |
UserMatchHistory | 1 month | Linkedin - Used to track visitors on multiple websites, in order to present relevant advertisement based on the visitor's preferences. |
yt-remote-connected-devices | never | No description available. |
yt-remote-device-id | never | No description available. |