THE Central Bank of Nigeria (CBN) has given its ‘No Objection’ and approved Access Bank’s transaction of the sale of a $50 million Step-Up Green Notes due 2027 under its $1.5 billion Global Medium Term Note Programme through a private placement.
According to the bank, the Notes will be issued in registered form with a settlement date of May 3, 2022 and a maturity date of May 3, 2027. The net proceeds from the issuance of the Notes will be used by Access Bank for the financing or refinancing, in part or in full, new and/or existing projects and/or assets meeting the eligibility criteria set out in the Bank’s Green Financing Framework dated November 18, 2021.
However, the Notes will be listed both on the Nigerian Exchange and the London Stock Exchange as well as registered under the Reg S rules. The NGX will be apprised of further developments, as they occur.
Meanwhile, in the Access Bank Green Bond Impact Report 2021, the Managing Director/Chief Executive Officer of the bank Herbert Wigwe said the initiative was the first-ever corporate green bond in Africa to be certified by the Climate Bonds Initiative.
This he said further validated the Bank’s leading position in the African sustainable finance market. This report, which is the second since the green bond issuance, affirms the bank’s strong commitment to sustainable economic development on the continent and underlines our conviction that sustainable finance must be part of the solutions to facilitate a strong recovery from COVID-19.
