Access Bank’s N15bn Green Bond fully subscribed — GMD, Herbert Wigwe

By


Access Bank Plc. said on Monday that a five-year Fixed Rate Senior Unsecured N15 billion Green Bond, the first climate bond to be issued in Africa, had been fully subscribed.

The bank’s Group Managing Director, Mr Herbert Wigwe, stated this at the bond-signing ceremony in Lagos.

Green bond is a bond specifically earmarked to be used for climate and environmental projects. It is typically asset-linked and backed by the issuer’s balance sheet, and are also referred to as climate bonds

Wigwe said that the Green Bond offer was achieved by way of Book Building, a systematic process of generating, capturing, and recording investor demand for shares during an initial public offering (IPO), or other securities during their issuance process.

He said that the bond, priced at a coupon of 15.5 per cent, had participation from a wide range of asset managers and pension fund administrators.

Wigwe said that the bank supported the global climate change mitigation and adaptation agenda and was seeking to promote responsible green lending globally.

According to him, the Green Bond issuance demonstrates the bank’s commitment to sustainable operational practices, being a pioneer operator both in domestic and international capital markets.

He added that the bank viewed the global drive for responsible and sustainable green financing as an opportunity to raise capital for the creation of assets through climate change financing.

Wigwe maintained that the bank had a strong track record of deploying environmental and social risk management tools as well as working closely with local and international agencies to deliver a greener outcome from investing activities.

“With our pace-setting experience in the mainstreaming of sustainability in our business operations.

“We are confident that this issue with further help in supporting environmentally friendly investors to meet their investment objectives whilst simultaneously supporting the bank’s customer towards realising growth opportunities in fast-developing low carbon economy,” Wigwe said.

He noted that the new funding would be directed toward financing new loans and refinancing existing loans in accordance with the bank’s Green Bond Framework, and support projects directed at flood defense, solar generation facilities, and agriculture.

Source:https://samueljackson12.blogspot.com/2019/03/access-banks-n15bn-green-bond-fully.html

Comments

Post a Comment

Popular posts from this blog

Prostitution; Nigerian Women At Growing Risk From Human Traffickers In Germany.

By
Image
According to InfoMigrants, Nigerian women are at growing risk from traffickers in Germany who exploit and engage them in prostitution. Read the full report below by InfoMigrants. The new prostitute protection law in Germany was meant to identify victims of human trafficking – most of them migrant women. More than 18 months after the law came into effect, thousands continue to be targeted for exploitation, and the risk for Nigerian women seems to be increasing. There are campervans parked by the roadside. Some have hearts painted on them, one says “girls, girls” in red letters. It’s an easy matter for someone to stop for a quick transaction in one of these Love-Mobiles – sex with one of the “girls” in exchange for the going rate. Prostitution is mainly legal in Germany, as are these mobile brothels. But many of the women in the business – including those working from the Love-Mobiles – are victims of illegal human trafficking. Most of the women are from Eastern Europe or Nige...
Read more

FULL TEXT: A sacrifice for our new political order – Ezekwesili

By
Image
“When the ACPN leadership approached me in a series of visits to appeal that I run for office on their platform, the party appeared to be a good fit. It was founded by some disgruntled PDP members some years ago, but when its prime founder decided to return to the PDP, a core of its membership refused to move back with him. I was told that they stayed back because of their opposition to the ways of the PDP. Considering my vocal disapproval of the PDP and the APC, I admired the ACPN’s decision to stand firm and refusal to be co-opted.” It has been an interesting one week since I made the tough but necessary decision to suspend my campaign for the presidency. I have been truly overwhelmed by the reactions to my announcement from Nigerians. Even in airports outside the country as I travelled last week, Nigerians walked up to me with questions, concerns, encouragement, and motivation. I also saw disappointment by some who had poured their hearts and hopes into actualising our mission ...
Read more

Update On Slay Queen Who Was Stripped Naked And Tortured Over Missing Phone.

By
Image
The League of Patriotic Lawyers has given Edo State Commissioner of Police, Mr. Olusegun Odumosu, 24 hours to unravel those behind the torture and insertion of pepper into a girl’s private part in Benin City over alleged stealing of a mobile phone.  Chairman of the platform and former Student Union President of the University of Benin, Mr. Abubakar Yesufu, who said this in a statement yesterday, also urged the state Director, Department of State Services, DSS, to be involved in the investigation. A video of the incident, seen by Vanguard yesterday, showed the girl being stripped naked by a group of people, who inserted pepper into her private parts for allegedly stealing a phone. The unidentified girl was heard crying and saying she didn’t steal any phone, while she was being humiliated by the crowd. Yesufu said: “The League of Patriotic Lawyers has given the Edo State Commissioner of Police 24 hours to arrest and commence prosecution of all the street urchins behind thi...
Read more