Access Bank has raised $100 million in seven-year international bilateral debt priced below its Eurobond yield of 7.25 percent, to bolster its capital base, outgoing chief executive said on Monday.
Aigboje Aig-Imokhuede said Access Bank, and that the Tier II debt would help to increase the bank’s capital adequacy ratio to 20 percent by year-end, up from 18 percent as at its nine-month period to September. The bank would not need to issue any equity, he said.
Aig-Imokhuede will retire as chief executive of the bank at the end of the year.
[Reuters]