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In a statement issued Wednesday, Access Bank said that
proceeds from the Notes will be utilised to finance or refinance its new and
existing projects and assets.
The Notes were issued in a private placement under Access
Bank’s $1,500,000,000 Global Medium Term Note Program, the Tier-1 lender
stated.
“We write to notify Nigerian Exchange Limited (the “NGX”),
that our banking subsidiary Access Bank PIc (“Access Bank” or the “Bank”) has
concluded the sale of a U.S.$50,000,000 Step-Up Green Notes due 2027 (the
“Notes”) 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”, the bank stated.
The Bank stated that the apex bank has given approval for
the transition.
According to Access Bank, “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.”
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