ACCESS Announces Early Redemption of Its US$400m Subordinated Unsecured Notes

Proshare

Thursday, May 30, 2019 11:00AM / NSE 


Access Bank Plc (the “Issuer’) hereby notifies the Nigerian Stock Exchange and the public that it intends to exercise its option to redeem the USD400 million subordinated unsecured notes at a fixed rate of 9.25%, due 2021.

The USD400 million subordinated bonds, issued in June 2014 by Access Bank Plc, will be redeemed on June 24, 2019, with accrued interest.

Following such redemption, the Bonds will be cancelled and there will be no Bonds outstanding. The Issuer intends to complete any formalities relating to the delisting of the Bonds from the regulated market of the Irish Stock Exchange as soon as possible.

 

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Graph 1: Access Bank Plc – One Year Share Price Movement

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Table: Unaudited Q1 2019 Results 

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