Nigeria’s Access Bank has issued USD500 billion in notes, reportedly the first additional tier one bond issuance to come out of Nigeria, and the bank’s second half billion issuance this month.

The issuance consisted of an extra USD500 million 6.125% senior notes, compliant with the Basel III regulations, the first such issuance in the country, ahead of the Central Bank of Nigeria’s adoption of the Basel III regulations on banking risk due in November. It follows Access Bank’s earlier issue of USD500 million in perpetual fixed rate resettable notes.

For more information, please see https://iclg.com/alb/17303-access-bank-makes-notes-issue