Access Bank Plc, the flagship banking subsidiary of Access Holdings Plc, has redeemed its $500 million Senior Unsecured Eurobond, which matured on September 21, 2026.
Access Holdings disclosed this in a statement signed by its Company Secretary, Sunday Ekwochi made available to the Nigerian Exchange Limited (NGX) noting that the redemption underscores the bank’s liquidity position, disciplined balance sheet management and commitment to meeting its obligations to investors and other stakeholders.
The $500 million Eurobond was issued in September 2021 with a five-year tenor and a coupon rate of 6.125 per cent.
According to the statement, Access Bank met all semi-annual coupon payment obligations associated with the Eurobond throughout its tenor and fully redeemed the principal amount at maturity.
The bank said the redemption discharged its obligations under the Eurobond and reflected its liquidity planning, financial discipline and capacity to meet funding commitments.
The repayment was funded entirely from the bank’s own foreign-currency liquidity resources and was carried out within its asset-liability management framework, according to the company.
Access Bank added that the maturity had been anticipated in its liquidity management framework and that the repayment would have no adverse impact on its operations or regulatory liquidity requirements.
Commenting on the redemption, the Managing Director/Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna, said the successful repayment demonstrated the strength of the bank’s franchise and its commitment to meeting obligations to investors and stakeholders.
“This redemption reflects the strength of Access Bank’s franchise, the discipline of our balance sheet management, and our continued commitment to meeting obligations to investors and stakeholders in a timely and transparent manner,” Ogbonna said.
He added that meeting the maturity from the bank’s own balance sheet affirmed the strength of its funding position and the discipline with which it manages its capital and liquidity.
The Access Bank CEO said the bank remained committed to maintaining a strong and diversified funding base to support sustainable growth and deliver long-term value to customers, investors, regulators and other stakeholders across its markets.
The redemption comes as Nigerian banks continue to strengthen their balance sheets and funding structures following the Central Bank of Nigeria’s recapitalisation programme.
For Access Bank, the repayment of the five-year Eurobond marks the conclusion of a major international debt obligation originally raised in 2021, while reinforcing the bank’s stated focus on liquidity management and diversified funding.
Access Holdings said the bank would continue to maintain a diversified funding base as it pursues its growth strategy across its markets.
