Access Bank redeems $500m Eurobond using internal liquidity

Access Bank Plc has redeemed its $500 million senior unsecured Eurobond following its maturity on September 21, 2026. The bank, a subsidiary of Access Holdings Plc, settled the debt entirely from its own foreign-currency liquidity resources rather than through fresh borrowing or refinancing.

The five-year Eurobond was originally issued in September 2021 under a $1.5 billion Global Medium-Term Note Programme. It carried a fixed coupon rate of 6.125 percent, payable semi-annually. At the time of issuance, the transaction saw strong investor demand with an order book exceeding $1.6 billion.

Access Bank Managing Director and CEO Roosevelt Ogbonna stated that meeting the maturity from the bank’s own balance sheet affirms the strength of its funding position and capital management discipline. The bank noted that the redemption was part of its established asset-liability management framework and will not adversely affect its operations or regulatory liquidity requirements.