Access Bank Lists N30 billion Bonds on NSE
By UMORU ABDULKADIR
Access Bank Plc has notified dealing members of the Nigerian capital market, of the listing of its N30 billion, 7-Year 15.5% Fixed Rate Subordinated Unsecured Bonds on the Nigerian Stock Exchange (NSE).
The bonds, which were on Tuesday, September 17, 2019 listed on the Daily Official List of the nation’s bourse would be due by 2026.
In view of the listing of the bonds, holders of the bonds can exit if they wish to do so before maturity.
Prior to this development, the lender had secured a ‘no objection’ from the Central Bank of Nigeria (CBN) and the Nigerian Stock Exchange (NSE) to the N30 billion tier-II bond issuance it concluded recently.
This was disclosed in a statement issued by the bank’s Secretary, Sunday Ekwochi and made available to the public.
Access Bank had finalised the process for the issuance of the bond that would be due in 7 years’ time.
The bond will mature in seven years and is callable after five years. The issuing houses are Chapel Hill Denham Advisory Limited, Lead Issuing House, Coronation Merchant Bank Limited and First-Ally Capital Limited.
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