Access Bank to redeem $400 million 2021 Eurobond in 2019   

29 November 2018 : Access Bank plans to redeem its 2021 $400 million Eurobond two years early according to Seyi Kumapayi, the Chief Financial Officer (CFO) of the bank. Coming a day after Fitch affirmed a B’ rating on the bank’s long-term debt with a stable outlook, the bank revealed it would redeem the 9.25% ACCESS JUN 2021 bond to reduce financing costs.. According to the CFO, the bank will explore other sources of capital in order to keep its capital adequacy ratio well above 20% and may consider retaining more of its profits as capital rather than distributing the cash as dividends. 

Reporting for EasyKobo on Thursday , 29 November 2018 in Lagos, Nigeria

Source: Vetiva Capital Management Limited

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