Access Bank Concludes Sale Of $50m Step-Up Green Notes
The Notes will be utilized by Access Bank to finance or refinance new and existing projects and assets.
Access Bank Plc has concluded the sale of $50,000,000 Step-Up Green Notes due 2027.
This was disclosed in a press release titled “Issuance Of Green Senior Unsecured Notes By Our Banking Subsidiary- Access Bank Plc”.
The Notes were issued in a private placement under Access Bank’s $1,500,000,000 Global Medium Term Note Program and proceeds from the Notes will be utilized by Access Bank to finance or refinance new and existing projects and assets.
Access Bank said, “we write to notify Nigerian Exchange Limited (NGX) that our banking subsidiary Access Bank PIc has concluded the sale of a U.S.$50,000,000 Step-Up Green Notes due 2027 under its U.S.$1,500,000,000 Global Medium Term Note Programme through a private placement.”
“The Notes will be issued in registered form with a settlement date of 03 May 2022 and maturity date of 03 May 2027. The net proceeds from the issuance of the Notes, will be used by Access 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.”
According to the leading financial institution the apex bank has given approval for the transition.
“The Notes will also be listed on the London Stock Exchange and registered under the Reg S rules. Access Bank’s regulator, the Central Bank of Nigeria has given its ‘No Objection’ and approval to the transaction,” Access Bank said.
Access Bank’s total operating expenses for 2021 increased by 14 per cent to N371 billion, compared to N326 billion in 2020, due to a combination of reasons including high inflation, currency rate movement, and the expanded franchise from recent acquisitions.
According to Access Bank, operating expenses from the new subsidiary in Guinea, as well as recent acquisitions in Botswana, Mozambique, South Africa, and Zambia, totaling N25.3 billion, causing operating expenses to rise by 6 per cent year on year to N345.8 billion.
Access Bank Plc has concluded the sale of $50,000,000 Step-Up Green Notes due 2027.
This was disclosed in a press release titled “Issuance Of Green Senior Unsecured Notes By Our Banking Subsidiary- Access Bank Plc”.
The Notes were issued in a private placement under Access Bank’s $1,500,000,000 Global Medium Term Note Program and proceeds from the Notes will be utilized by Access Bank to finance or refinance new and existing projects and assets.
Access Bank said, “we write to notify Nigerian Exchange Limited (NGX) that our banking subsidiary Access Bank PIc has concluded the sale of a U.S.$50,000,000 Step-Up Green Notes due 2027 under its U.S.$1,500,000,000 Global Medium Term Note Programme through a private placement.”
“The Notes will be issued in registered form with a settlement date of 03 May 2022 and maturity date of 03 May 2027. The net proceeds from the issuance of the Notes, will be used by Access 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.”
According to the leading financial institution the apex bank has given approval for the transition.
“The Notes will also be listed on the London Stock Exchange and registered under the Reg S rules. Access Bank’s regulator, the Central Bank of Nigeria has given its ‘No Objection’ and approval to the transaction,” Access Bank said.
Access Bank’s total operating expenses for 2021 increased by 14 per cent to N371 billion, compared to N326 billion in 2020, due to a combination of reasons including high inflation, currency rate movement, and the expanded franchise from recent acquisitions.
According to Access Bank, operating expenses from the new subsidiary in Guinea, as well as recent acquisitions in Botswana, Mozambique, South Africa, and Zambia, totaling N25.3 billion, causing operating expenses to rise by 6 per cent year on year to N345.8 billion.
