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Wednesday, November 30, 2022

Access Bank Eurobond Yield Highest among Peers

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Access Bank Plc’s $300 million senior Eurobond bond due in October 2021 is sporting double digit yields, the highest among peers.
The Bank issued the bond in 2016 and it currently yields 11.13 percent as at June 15, 2020, according to FMDQ data.
The Access Bank Eurobond has the highest yield among Nigerian corporates with outstanding Eurobonds including Zenith Bank, UBA and Seplat.
Investors may be fretting about the dollar liquidity of the Bank as the maturity nears.
Access Bank reported Foreign exchange (FX) losses of N54 billion in the first quarter of 2020. The stock closed trading at N6.85 per share on Wednesday.

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