Thursday, February 21,
2019 02:48PM / NSE
Sequel to its earlier announcement on January 18, 2019, Access Bank Pic (‘the Bank’) hereby notifies The Nigerian Stock Exchange that the Securities & Exchange Commission has approved the Book Build in respect of the proposed Green Bond (with climate credentials) being issued by the Bank.
The Bond is a 5-year Fixed Rate Senior Unsecured Green Bond Issuance of up to N15 Billion ("the Issue"), the first ever Climate Bonds Standard Certified Corporate Green Bond issued in Africa. The Issue has been awarded a B2 rating by Moody’s; was verified by PwC (UK) and certified by the Climate Bond Initiative as having met the Climate Bond Standards.
The details of the Book Build are set out below:
It will be recalled that the Bank had in June 2018 launched the Nigerian Green Bond Market Development Programme in partnership with EMDQ OTC Securities Exchange and the Securities Exchange Commission.
Speaking on this Issue, the Bank’s Group Managing Director, Mr. Herbert Wigwe said:
“With our pace-setting experience in the mainstreaming of sustainability in our business operations, we are confident that this Issue will further help in supporting environmentally friendly investors to meet their investment objectives whilst simultaneously supporting the Bank’s customer towards realizing growth opportunities in the fast-developing low carbon economy.”
The Issue proceeds will be used to finance eligible green projects that meet the Climate Bonds Initiative (CBI) standards. The Issue will serve as a turning point for Nigeria, attracting both domestic and international investors and will set the pace for other Nigerian corporates to raise green capital.
10. Moody’s: Access, Diamond Deal, Positive for Nigerian Banking System – ThisDay – Dec 22, 2018