TheCable

Access Bank Plc has listed its recently issued green bond on the FMDQ OTC Securities Exchange and the Nigerian Stock Exchange.

This follows the formal approval of the bond by the Securities and Exchange Commission.

The bond offer, which was achieved by a bookbuild and was fully subscribed, was priced at 15.5% with participation from asset managers and pension fund administrators.

The bond has already been awarded an Aa-rating by Agusto & Co.

The listing of the bond closely follows the completion of the bank’s merger with Diamond Bank and the launch of a new brand identity to symbolize their shared philosophy.

The bank said proceeds from the bond will allow the financing of new loans and refinancing of existing loans while supporting projects directed at flood defense, solar generation facilities, and agriculture.

Speaking on the occasion of the listing, Herbert Wigwe, the group managing director of Access Bank Plc, said: “We hope that this bond issuance inspires other African companies to support the long-term development of the green finance market whilst simultaneously realizing the growth potential of the fast-developing low carbon economy.”

Chapel Hill Denham was the lead issuing house on the green bond issuance, whilst the joint issuing house was Coronation Merchant Bank.