KEY POINTS
• Access Bank Plc has redeemed its $500 million senior unsecured Eurobond that matured on September 21, 2026.
• The bank funded the repayment entirely from its own foreign currency liquidity resources.
• The five year bond was issued in September 2021 at a coupon rate of 6.125 per cent.
• Access Bank said the maturity had been incorporated into its liquidity planning and had no adverse effect on operations or regulatory liquidity requirements.
MAIN STORY
Access Bank Plc has settled its $500 million senior unsecured Eurobond at maturity, using its own foreign currency liquidity resources to meet the repayment obligation.
Access Holdings Plc announced the redemption in a statement dated September 21, 2026, five years after the debt instrument was issued.
The Eurobond, issued in September 2021, carried a coupon rate of 6.125 per cent. Access Bank said it also met all semi annual coupon payments due to investors throughout the five year tenor.
According to Access Holdings, the bond maturity had been incorporated into the bank’s liquidity management plans, with repayment provided for in advance through its asset liability management framework.
The company said settling the debt from the bank’s own foreign currency resources had no adverse impact on its operations or regulatory liquidity requirements.
The redemption brings the five year Eurobond to full settlement and discharges Access Bank’s obligations under the instrument.
Roosevelt Ogbonna, Managing Director and Chief Executive Officer of Access Bank Plc, said the repayment reflected the bank’s approach to managing its funding, capital and liquidity.
He said meeting the maturity from the bank’s own balance sheet demonstrated the strength of its funding position and its approach to managing its financial resources.
Access Bank said it would continue to maintain a strong and diversified funding base as it pursues sustainable growth across its markets.
The bank said the funding strategy would continue to support its customers, investors, regulators and other stakeholders.
THE ISSUES
- The redemption removes the $500 million Eurobond obligation from Access Bank’s outstanding commitments under the instrument, following the completion of the five year tenor.
- Funding the repayment from the bank’s own foreign currency liquidity means the maturity was settled without reliance on external refinancing at the point of repayment.
- Access Bank said the maturity had been incorporated into its liquidity planning, with the repayment scheduled through its asset liability management framework ahead of the due date.
- The bank said the transaction did not adversely affect its operations or regulatory liquidity requirements, while maintaining its commitment to a diversified funding base.
WHAT’S BEING SAID
“This redemption reflects the strength of Access Bank’s franchise, the discipline of our balance sheet management, and our continued commitment to meeting obligations to investors and stakeholders in a timely and transparent manner.” – Roosevelt Ogbonna, Managing Director and Chief Executive Officer, Access Bank Plc
WHAT’S NEXT
Access Bank said it would continue to maintain a diversified funding base as it pursues sustainable growth across its markets and supports its customers, investors, regulators and other stakeholders.
BOTTOM LINE
Access Bank has fully redeemed its $500 million Eurobond at maturity using its own foreign currency liquidity resources. The bank said the repayment was planned through its liquidity management framework and did not adversely affect its operations or regulatory liquidity requirements.
