Access Bank Eurobond Yield: 10.75 %

Nigeria’s Access Bank priced its $350 million Eurobond at a yield of 10.75 percent, last week. This is the first tranche under its U.S $1,000,000,000 Global Medium Term Note Programme.

Nigerian banks are scrambling to raise funds amid fears over rising non performing loan ratios, and tightening foreign currency liquidity.

UBA, United Bank for Africa (UBA) another tier one lender, said late last week it signed a EUR 60 million lending programme with the European Investment Bank (EIB), which will allow the bank provide longer term loans than currently available to private companies in Nigeria.

 

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