Access Bank Redeems $500 Million Eurobond Maturing September 21
Access Bank repaid its $500 million senior unsecured Eurobond issued in 2021, maturing on 21 September 2026.
In Brief
- •Access Bank repaid its $500 million senior unsecured Eurobond issued in 2021, maturing on 21 September 2026.
- •The redemption was funded from the bank’s foreign‑currency liquidity, aligning with its asset‑liability management framework.
- •The Eurobond carried a 6.125 % coupon, was oversubscribed more than three times, and was part of a $1.5 billion Global Medium‑Term Note Programme.
- •Access Holdings confirmed the bank had never defaulted on coupon payments and highlighted the move as evidence of strong liquidity and disciplined balance‑sheet management.
Why It Matters
The timely repayment of a large Eurobond demonstrates Access Bank’s robust liquidity and disciplined capital management, reinforcing investor confidence and potentially lowering future borrowing costs. By drawing on its own foreign‑currency reserves, the bank avoids additional debt issuance, preserving capital for growth and regulatory compliance within Nigeria’s banking sector.
Key Details
- Redemption Date
- 21 September 2026
- Redemption Amount
- $500 million
- Coupon Rate
- 6.125 %
- Issue Date
- 2021
- Oversubscription
- over three times
- Program Value
- $1.5 billion
Original Reporting & Sources
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