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Nairaland Forum / Nairaland / General / Business / Access Bank Plans N30bn 15.5% Tier-2 Bond (6606 Views)
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Access Bank Plans N30bn 15.5% Tier-2 Bond by akelicious(m): 4:35am On Aug 06, 2019 |
Access Bank has said it is planning to list a N30 billion Tier-2 bond on the floor of the Nigerian Stock Exchange (NSE). A bond is a fixed income instrument representing a loan made by an investor to a borrower (typically corporate or governmental). Bonds are used by companies, municipalities, states, and sovereign governments to finance projects and operations. Owners of bonds are debt-holders or creditors of the issuer. The bank in a statement sent to the NSE’s website, noted that it had concluded the process of the issuance of its N30 billion tier-2 bond following the approvals of the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN). It said the bond had a tenor of 7 years as it would be due in 2026. “The bank has obtained the CBN’s no objection mandate to the bond issuance in addition to the SEC approval. Access Bank will undertake a listing of the bond on the NSE imminently as the market will be provided with further information in due course.” Prior to this development, Access Bank’s Group Managing Director, Herbert Wigwe, was quoted as saying that the Tier-2 N30 billion subordinated unsecured bond issued by the bank to strengthen its funding base was oversubscribed and was to support the bank’s low-risk appetite. https://www.google.com/amp/s/www.sunnewsonline.com/access-bank-plans-n30bn-15-5-tier-2-bond/amp/ 1 Like
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Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by Heavenschild: 5:55am On Aug 06, 2019 |
Finally God has answered my prayers. The devil has been put to shame Now I can use the savings I had for my wedding in December to buy bonds and use the profit in the next 7 years to make it more elaborate... 5 Likes |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by arilewo(m): 5:56am On Aug 06, 2019 |
A nice one |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by Nobody: 5:56am On Aug 06, 2019 |
Is that why I can’t make payment with my Visa card since yesterday? Rubbish!!! |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by grimandevil: 6:01am On Aug 06, 2019 |
Good development |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by Nobody: 6:01am On Aug 06, 2019 |
7 years is quite a long time. With inflation rate at almost 12%, 15.5% interest rate will make only a litttle difference. Good one nonetheless. 11 Likes 1 Share |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by Ayo8(m): 6:14am On Aug 06, 2019 |
Hmm...Can access bank give out loan with this new development.. 1 Like |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by Princsk1(m): 6:17am On Aug 06, 2019 |
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Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by Princsk1(m): 6:17am On Aug 06, 2019 |
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Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by bluntjudge: 6:24am On Aug 06, 2019 |
Is that why I got debited twice on each transaction I made yesterday? 2 Likes |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by Nobody: 6:27am On Aug 06, 2019 |
I don't understand. Is it 15.5% EACH YEAR for seven years, or a flat 15.5 for the entire seven year period? 3 Likes |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by DeSepiero(m): 6:35am On Aug 06, 2019 |
.. 5 Likes 1 Share |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by Nobody: 6:39am On Aug 06, 2019 |
DeSepiero: CBN lending rate is below 15.5% actually. 3 Likes |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by Nobody: 6:39am On Aug 06, 2019 |
Oversubscribed!!!!! "Prior to this development, Access Bank’s Group Managing Director, Herbert Wigwe, was quoted as saying that the Tier-2 N30 billion subordinated unsecured bond issued by the bank to strengthen its funding base was oversubscribed and was to support the bank’s low-risk appetite." are they telling us that they shared the profit before coming to press? |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by anyimontana(m): 6:45am On Aug 06, 2019 |
I rather buy t-bill at 13-14% and renwew every year....I am not mad How can I unread this nonsense I read Meet divido if u really need to raise 30billion 2 Likes |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by Nobody: 6:50am On Aug 06, 2019 |
anyimontana: Exactly! compound returns with t-bills annually rather than tie down the money for that long. 3 Likes |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by Kaydagreat(m): 6:52am On Aug 06, 2019 |
Tier 2 UNSECURED bonds ![]() ![]() ![]() |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by 9jaRealist: 6:59am On Aug 06, 2019 |
Heavenschild: ![]() ![]() ![]() > |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by 9jaRealist: 7:01am On Aug 06, 2019 |
Hedonini: Each year.... > |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by Nobody: 7:05am On Aug 06, 2019 |
9jaRealist: OK great. That makes some sense, but treasury bills better abeg. |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by 9jaRealist: 7:06am On Aug 06, 2019 |
anyimontana: How do you know t-bills will remain at 13-14%? With CBN eager to deter banks binging on t-bills? The CBN has already pushed the rates down from about 18%, as the inflation rate trends downwards. > 1 Like |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by 9jaRealist: 7:09am On Aug 06, 2019 |
Barrytone: It’s a series, part of the N100 billion issue The first issuance of N30b was oversubscribed. > |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by chloride6: 7:13am On Aug 06, 2019 |
Hope you know the bond is Tier 2? Check Basel for the meaning of that before you buy... |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by 9jaRealist: 7:13am On Aug 06, 2019 |
DeSepiero: Akdegreat: These bonds are targeted at institutional investors (insurance companies, pension funds, etc.), rather than retail investors. Accordingly, a seven years tenor would be properly categorized as Medium-Term (5-10 years). > 2 Likes |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by Koralords: 7:15am On Aug 06, 2019 |
Useless bank |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by 9jaRealist: 7:23am On Aug 06, 2019 |
chloride6: Simply means it will be part of the bank’s Tier-2 capital... Both Tier-1 (core) and Tier-2 (supplemental) capital make up the bank’s required reserves. > |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by hodona4real: 7:47am On Aug 06, 2019 |
is that y Access bank refuse to pay us our allawi. while others Bank have paid 1 Like |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by Nobody: 7:48am On Aug 06, 2019 |
Heavenschild:How can I buy the bond?? |
Re: Access Bank Plans N30bn 15.5% Tier-2 Bond by deleson: 7:59am On Aug 06, 2019 |
Access bank should goan sit somewhere...Terrible service and customer experience, yet they want more from unsatisfied clients. |
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