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    StanChart is Joint Lead Manager on Access Bank $500m Eurobond

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Standard Chartered Bank (StanChart) has acted as a Joint Lead Manager for Access Bank Plc on its $500 million Senior Eurobond Issuance.

    The Senior Eurobond is a five-year unsecured note (144A/RegS) under Access Bank’s $1.5 billion Global Medium-Term Note Programme and is listed on the main market of the London Stock Exchange. The bond matures in September 2026 and was issued with a yield and coupon of 6.125 per cent with interest payable semi-yearly in arrears.

    The offering achieved the lowest (outstanding) Nigerian bank Eurobond coupon, supported by an over three times oversubscribed orderbook of over $1.6 billion, which represents the largest order-book ever for a Nigerian bank Eurobond transaction. The net proceeds of the Eurobond will provide medium term funding and help to enhance the capacity of the bank to support its general banking purposes.

    The transaction saw a significant demand from top quality investors globally including United States, Europe (incl. the UK), Middle East, Asia and Africa, anchored by a number of large tickets.

    The phenomenal success of this transaction is a strong testament to global investors’ confidence in Access Bank as well as Standard Chartered’s deep knowledge of the banking and financial markets industry, access to diverse global and local investor pool and strong relationships with the key stakeholders.

    Standard Chartered Bank has led and served as Joint Lead Manager on Eurobond transactions by banks in Sub-Saharan Africa since 2017 (ex SA), underscoring our unparalleled leadership in the space.

    Standard Chartered’s Executive Director, Corporate, Commercial and Institutional Banking, Nigeria & West Africa, Olukorede Adenowo, noted: “Standard Chartered is proud to partner Access Bank on this momentous transaction.

    “The success of this issuance demonstrates investors’ confidence in Access’s strategy as a leading banking group out of Africa. We continue to work with our clients across Africa to deliver on their growth aspirations and also use our market leading position in the international bond markets and sustainable financing space to drive inclusive growth and development in Africa.’’

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