{"id":30086,"date":"2019-02-21T18:13:55","date_gmt":"2019-02-21T17:13:55","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=30086"},"modified":"2019-02-21T18:13:55","modified_gmt":"2019-02-21T17:13:55","slug":"access-bank-plc-set-to-issue-first-corporate-bond-in-africa","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/access-bank-plc-set-to-issue-first-corporate-bond-in-africa\/","title":{"rendered":"Access Bank Plc Set To Issue First Corporate Bond In Africa"},"content":{"rendered":"

Following approval of its book build by the Securities and Exchange Commission (SEC), Access Bank Plc is set to issue the first corporate green bond in Africa.<\/p>\n

The book build commenced today, Thursday, February 21, 2019 and will be concluded in exactly one week, after which the funding of commitment will begin on Friday, March 1, 2019.<\/p>\n

The Bond, a 5-year Fixed Rate Senior Unsecured Green Bond of up to N15 Billion is the first ever Climate Bonds Standard Certified Corporate Green Bond to be issued in Africa. It has been awarded a B2 rating by Moody\u2019s and verified by PwC (UK) following certification by the Climate Bond Initiative as having met the Climate Bond Standards.<\/p>\n

Management of Access Bank had in anticipation of the approval, launched the Nigerian Green Bond Market Development Programme in June 2018, in partnership with FMDQ OTC Securities Exchange and the Securities Exchange Commission.<\/p>\n

While reacting to the approval, the Group Managing Director, Herbert Wigwe described it as a step in the right direction adding that it lends credence to the process and gives hope of a favourable outcome.<\/p>

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According to Wigwe, the final approval of the Green Bond will mean another feat that is commendable and speaks to the vision of being a key player in the country\u2019s finance sector. In his words, \u2018With over a decade\u2019s experience leading Sustainability in the Nigerian financial sector, we believe that the issuance of this bond will create a path to financing Nigeria\u2019s climate change objectives and also unlock the country\u2019s economic growth potential\u2019.<\/p>\n

He continued, citing the Bank\u2019s rich experience in the area of sustainability as a factor that will guarantee its success, \u2018\u2019With our pace-setting experience in the mainstreaming of sustainability in our business operations, we are confident that this Issue will further help in supporting environmentally friendly investors to meet their investment objectives whilst simultaneously supporting the Bank\u2019s customer towards realizing growth opportunities in the fast-developing low carbon economy.\u201d, he said.<\/p>\n

The Issue proceeds will be used to finance eligible green projects that meet the Climate Bonds Initiative (CBI) standards. The Issue will serve as a turning point for Nigeria, attracting both domestic and international investors and will set the pace for other Nigerian corporates to raise green capital.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following approval of its book build by the Securities and Exchange Commission (SEC), Access Bank Plc is set to issue the first corporate green bond in Africa. The book build commenced today, Thursday, February 21, 2019 and will be concluded in exactly one week, after which the funding of commitment will begin on Friday, March …<\/p>\n","protected":false},"author":6,"featured_media":16887,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[793],"coauthors":[2391],"class_list":["post-30086","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-access-bank"],"yoast_head":"\nAccess Bank Plc Set To Issue First Corporate Bond In Africa - National Wire<\/title>\n<meta name=\"description\" content=\"Following approval of its book build by the Securities and Exchange Commission (SEC), Access Bank Plc is set to issue the first corporate green bond\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/access-bank-plc-set-to-issue-first-corporate-bond-in-africa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Access Bank Plc Set To Issue First Corporate Bond In Africa - 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