Business Journal


Access Bank Issues N15bn 5-Year Green Bond at 15%

Herbert Wigwe Group MD/CEO Access Bank Plc

Access Bank Plc is issuing a 5-year Fixed Rate Senior Unsecured Green Bond Issuance of up to N15.0billion which is the first ever Climate Bonds Standard Certified Corporate Green Bond issued in Africa.
According to Afrinvest Research, the net proceeds from the Issue will be applied towards financing/ re-financing identified eligible green assets and projects, duly verified and certified by Climate Bonds initiative (CBi), in line with the global Climate Bonds Standard.

Issuer Access Bank Plc
Issue Size Up to ₦15.0bn
Bond Description 5 Year [•] % Fixed Rate Senior Unsecured Green Bonds due 2024
Status of the Notes Fixed Rate Unsecured Green Bonds
Pricing Guidance 14.90% to 15.10% per annum
Tenor Five (5) Years
Issuer Rating  ‘Aa-’, Agusto & Co Limited
Bond Rating ‘Aa-’, Agusto & Co. Limited
  ’B2’, Moody’s
Book Build Opens Thursday, February 21, 2019
Book Build Closes Thursday, February 28, 2019
Allocation Thursday, February 28, 2019
Funding of Commitment Friday, March 01, 2019
Subscription Minimum of ₦5,000,000 (i.e. 5,000 units at ₦1,000/unit) and multiples of ₦1,000,000 thereafter
Use of Proceeds Water – Flood Defense – 84.80%
  Solar – Generation facilities – 11.73%
  Agriculture – 1.27%
  Offer cost – 2.19%
Listing FMDQ OTC Plc and/or The Nigeria Stock Exchange (NSE)
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