Access Bank Plc is holding a global investor call today (27th of September 2021) ahead of a fresh Senior Unsecured Eurobond issuance.
Less than a week after Access Bank announced that it successfully issued a $500 million Senior Unsecured Eurobond from the international debt capital market, the bank on Friday disclosed its intention of the new issuance.
In a notice to the Nigerian Exchange Group (NGX), the biggest lender in Africa’s most populous country said it will be issuing the additional 5-Year USD denominated Tier 1 Eurobond in furtherance of its Global Medium-Term Note Issuance Programme.
Already, the bank has mandated Citi, J.P. Morgan, Renaissance Capital and Mashreqbank as Joint Bookrunners and Chapel Hill Denham and Coronation Merchant Bank as Financial Advisers and Joint Bookrunners to arrange the global investor call today.
According to the statement, “the issuance of an inaugural Basel Ill-based perpetual Non- Call 5.25-year benchmark USDdenominated Regulation S/144A Additional Tier 1 bond offering under the Bank’s Global Medium- Term Note Programme may follow, subject to market conditions.
“Kindly note that this announcement is not being made in, and copies of it may not be distributed or sent into, the United States (except that it may be sent in the United States directly to qualified institutional buyers, as defined in the rule 144a under the U.S. Securities Act of 1933, as amended (the Securities Act), Canada, Australia, Japan, Nigeria or any other jurisdiction where to do so would be unlawful.
“These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States.
“The securities referred to herein have not been and will not be registered under the Securities Act, and may not be offered or sold in the United States or to U.S. persons unless such securities are registered under the Securities Act or pursuant to an exemption from the registration requirements of the Securities Act.
“Recipients of this announcement may not forward this to any other person resident in Nigeria. Access Bank will note be liable for violation of Nigeria’s securities laws where a recipient forwards this announcement to other persons resident in Nigeria,” the statement noted.
Access Bank had recorded a 31 per cent growth in profit before tax for the half year ended June 30, 2021.
The statement said the group achieved a strong performance through its unique business model that supports the corporate and retail value chains throughout the African continent and beyond.
With improving profitability, resilient capital position and a robust, diversified balance sheet, the Group is on track to deliver on its vision to be the World’s most respected African bank.