Access Bank Plc has redeemed its $500 million senior unsecured Eurobond that reached maturity on September 21, 2026, marking the bank’s completion of the repayment obligation.
The bank said the repayment was funded entirely from its available resources, with no need for refinancing or additional borrowing to meet the obligation. The Eurobond was issued as part of the bank’s international funding programme and was due for repayment this month.
The development comes as Nigerian banks continue to manage their foreign-currency obligations while navigating changing conditions in the domestic and international financial markets.
For Access Bank, the repayment removes the matured $500 million obligation from its outstanding debt profile and demonstrates its ability to meet a significant international debt commitment as scheduled.
The Nigerian banking sector has faced increased attention in recent years over capital requirements, foreign-currency exposure and the need to maintain adequate liquidity. Banks have also been raising capital and adjusting their funding structures as they position themselves for expansion under evolving regulatory requirements.
Access Bank’s repayment comes at a time when Nigeria’s financial markets are experiencing significant changes, including the Central Bank of Nigeria’s recent reduction of the Monetary Policy Rate from 26.5 percent to 23 percent.
The bank’s successful settlement of the Eurobond will therefore be closely watched by investors assessing the strength and funding position of Nigerian financial institutions.
