Access Bank Repays $500m Eurobond Without Fresh Borrowing
Access Bank Plc has successfully settled its $500 million foreign-currency debt maturity from its own liquidity resources, demonstrating the bank's balance-sheet capacity to absorb a major external funding obligation without resorting to fresh borrowing.
The lender redeemed its five-year senior unsecured Eurobond on September 21, 2026, meeting the principal obligation entirely from its foreign-currency liquidity position. This move underscores the bank's ability to manage its assets and liabilities effectively.
Access Bank issued the Eurobond in September 2021 under its $1.5 billion Global Medium-Term Note Programme, raising $500 million from international investors. The five-year senior unsecured notes carried a fixed coupon of 6.125 percent, payable semi-annually, and were listed on the main market of the London Stock Exchange.
The bank's managing director and chief executive officer, Roosevelt Ogbonna, said the redemption reflected the strength of Access Bank's franchise, the discipline of its balance sheet management, and its continued commitment to meeting obligations to investors and stakeholders in a timely and transparent manner.