Access Bank concludes sale of $50 million step-up Green Notes

Access Bank Plc has concluded the sale of a $50,000,000 Step-Up Green Notes due 2027.

This was disclosed in a press release seen by Omohglobal neww  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. The net proceeds from the Notes will be utilized by Access Bank to finance or refinance new and existing projects and assets.

What Access Banks is saying

The Bank 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 primary objective of the Notes would be to finance new or existing projects. The bank said “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 Aaa 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.”