Access Bank redeems $500 million Eurobond at maturity

Access Bank Plc has redeemed its $500 million Senior Unsecured Eurobond following the instrument’s maturity, marking the successful conclusion of a five-year international debt issuance launched in 2021.

The development was disclosed in a statement issued on Monday and signed by the Company Secretary, Sunday Ekwochi, who noted that the Eurobond matured on September 21, 2026.

The debt instrument was issued in September 2021 under the bank’s Global Medium-Term Note Programme with a five-year tenor and a coupon rate of 6.125%.

What they are saying

According to Access Holdings, the redemption was executed through its flagship subsidiary, Access Bank Plc, which fully repaid the Eurobond upon maturity.

• “Access Holdings Plc today announces that its flagship subsidiary, Access Bank Plc, has redeemed its US$500 million Senior Unsecured Eurobond, which matured on September 21, 2026,” the statement read.
• The bank stated that the repayment reflects its strong liquidity position, prudent balance sheet management and commitment to meeting obligations to investors and stakeholders.
• It added that all semi-annual coupon payments due on the Eurobond were made in full and on schedule throughout the life of the instrument.

Access Bank further disclosed that the redemption was funded entirely from its own foreign-currency liquidity resources in line with its asset-liability management strategy and the maturity profile envisaged at the time of issuance.

According to the bank, the repayment had been fully incorporated into its liquidity planning framework and would have no adverse impact on operations or compliance with regulatory liquidity requirements.

Commenting on the development, the Managing Director and Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna, said the successful repayment underscores the bank’s financial strength and disciplined approach to liquidity management.

• “This redemption reflects the strength of Access Bank’s franchise, the discipline of our balance sheet management, and our continued commitment to meeting obligations to investors and stakeholders in a timely and transparent manner. Meeting this maturity from our own balance sheet affirms the strength of our funding position and the discipline with which we manage our capital and liquidity.”

The bank reiterated its commitment to maintaining a diversified funding base, supporting sustainable growth and creating long-term value for customers, investors, regulators and other stakeholders across its markets.

Get up to speed

Access Bank issued the $500 million Eurobond in September 2021 as part of its Global Medium-Term Note Programme, attracting significant interest from institutional investors across the United States, Europe, the Middle East, Asia and Africa.

The transaction generated a record $1.6 billion order book, making it the largest investor demand ever recorded for a Nigerian bank Eurobond at the time and nearly three times the amount on offer.

The issuance also achieved what was then the lowest outstanding coupon for a Nigerian bank Eurobond, highlighting strong investor confidence in the lender’s credit profile and growth prospects.

What you should know

The redemption comes as Access Holdings continues to focus on strengthening shareholder value following years of aggressive expansion across Africa and other international markets.

Speaking at the Group’s fourth Annual General Meeting in June 2026, Chairman Aigboje Aig-Imoukhuede said the company was committed to resuming dividend payments once outstanding regulatory conditions are met.

According to him, Access Holdings has entered a new phase focused on extracting value from investments made over the years rather than pursuing growth for its own sake.

The Group reported N1.007 trillion in profit and N51.56 trillion in total assets for the 2025 financial year, figures it says demonstrate the strength of its long-term value creation strategy and financial resilience.