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Sunday, November 27, 2022

Access Bank Announces $50m Step-Up Puttable Green Bond, Due 2027

Access Holdings Plc announced on Wednesday that its subsidiary, Access Bank Plc, has successfully priced a $50-million Reg S Step-Up Green Notes due 2027 in the international capital market through a private placement.

Access bank
AIHS 2022

This dollar offering represents the Bank’s second Green Bond issuance following its debut Naira Green Bond offering in 2019.

The Step-Up puttable Green Bond is a five-year Senior Unsecured Note Under Access Bank’s $1.5 billion Global Medium-term Note Programme, which 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,” Access said in the statement

Nigeria has not performed well on the issuance of green bonds. To date, only the federal government and two other entities (Access Bank Plc and North-South Power Company Plc) have raised certified green bonds.

Daily Trust

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