World Street Journal News as it is…unadulterated!
Access Bank Plc is set to issue the first Eurobond from Nigeria in almost two years after choosing banks to arrange a new deal. Nigeria’s fourth-largest lender by assets will meet investors in the U.S. and Europe from Tuesday through Oct. 3 and plans to sell five-year debt, according to Chief Executive Officer Herbert Wigwe. Barclays Plc, Citigroup Inc. and JPMorgan Chase & Co. will arrange the deal, he said.
“It will be for working capital, for lending to investment-grade names,” including Nigerian companies seeking to expand their exports, Wigwe, based in the commercial hub of Lagos, said by phone Monday. He didn’t say how much Access Bank intends to raise.
Access Bank, which has $12 billion of assets, has two deals outstanding; one of $350 million due in July next year and another of $400 million maturing in June 2021.
