Access Bank says it has redeemed $500 million Eurobond
Access Bank says it has repaid a $500 million Eurobond, describing the transaction as part of its liquidity framework. The lender said the redemption would not adversely affect its operations or its ability to meet regulatory liquidity requirements.
Access Bank has redeemed a $500 million Eurobond, according to the lender. The bank said the repayment was integrated into its liquidity framework. It also stated that the transaction would have no detrimental impact on its operations or on its regulatory liquidity requirements.
The available information does not specify the date on which the Eurobond was redeemed, the bond’s original maturity, or the source of the funds used for the repayment. It also does not provide details of the interest rate or the terms of the instrument. Access Bank’s statement focused on the effect of the redemption on its liquidity position.
By saying the repayment was incorporated into its liquidity planning, the lender indicated that it had accounted for the obligation within its financial management framework. The bank did not, in the supplied material, provide figures for its liquidity position before or after the transaction. No assessment from a regulator, investor or independent analyst was included.
The redemption is the central development reported: Access Bank has repaid the $500 million Eurobond, while maintaining that the payment does not threaten its operations or compliance with regulatory liquidity requirements. Further information about the bond and the bank’s broader financial position was not provided.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.