FRI 10 SEPT, 2021-theGBJournal- Access Bank Plc, is set to issue a 5-Year fixed rate Senior Unsecured Note as part of its Global Medium Term Programme.
The dollar-denominated bond which will be launched September 11 2021 is subject to market conditions.
The Pan- African Bank listed Absa, Barclays, J.P. Morgan and Standard Chartered Bank to arrange investor meetings as joint bookrunners with Chapel Hill Denham and Rand Merchant Bank as financial advisers and Joint Bookrunners to arrange a global investor call in addition to a series of fixed income investor calls commencing on September 11, 2021.
According to the lender, the size and yield of the Access Bank bond would be determined by demand.
The issuance of a 5-Year fixed rare USD-denominated Regulation S/144A Senior Unsecured Note under the Bank’s Global Medium Term Note Programme may follow subject to market conditions.
Access Bank put a caveat to the press release of the planned programme. It Read: ‘’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 rule 144a under the U.S. Securities Act of 1993, 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.
Access Bank recently acquired 78.15% stake in BancABC Botswana as part of its continental expansion programme. And global ratings agency, Moody’s says they expect that the Bank’s African subsidiaries will reach around 20% of the group’s total assets in the next three to five years, from 7% as of September 2020.
Access has pan-African operations, with subsidiaries and clients in Ghana, Democratic Republic of Congo, Zambia, Rwanda, Gambia, Sierra Leone, Cameroon, Kenya, Mozambique and South Africa. Additionally, it is also present in the United Kingdom.
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