Thursday 20th October 2016

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Access Bank Raises US$300m Eurobond from International Market Obinna Chima

Access Bank Plc has successfully raised US$300 million via a Eurobond from the international bond market. The bank recently accessed the international market to raise the bond, with a maturity

T H I S D AY S P E C I A L R E L E A S E date of October 2021 and at a coupon of 10.5 per cent. This makes Access Bank the first Nigerian bank to raise a bond from the international market this year despite the country’s macroeconomic

headwinds. The bank’s management, in a statement yesterday, said the successful outcome of the bond demonstrated the strength, resilience and international endorsement

of Access Bank Plc. Market analysts also saw the Eurobond issue as a show of support for the federal government’s efforts to attract foreign exchange into the country. Access Bank currently has two series of Eurobonds in

issue – the $350 million maturing in July 2017, at a coupon of 7.25 per cent, and the $400 million (9.25%) maturing in June 2021 – as part of a US$1 billion global medium-term note programme. Commenting on the

development, Herbert Wigwe, Group Managing Director/ CEO of Access Bank, said: “The bond will be for working capital, for lending to investment-grade names, including Nigerian companies Continued on page 8

Buhari Meets Released Chibok Girls, Snubs BBOG Campaigners...

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Thursday 20 October, 2016 Vol 21. No 7854. Price: N250

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FEC Okays Plan to Concession Railway Rehabilitation to GE...

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CBN Ramps up FXAllocation toAirlines,Manufacturers,Others Pumps $314m through special intervention on forex market

Obinna Chima In an effort to meet part of the pent up demand for foreign

exchange by critical sectors of the economy, the Central Bank of Nigeria (CBN) yesterday allocated $314 million to

Nigerian banks for onward sale to their customers through Special Secondary Market Intervention Retail Sales

(SMIS). According to a CBN source, the intervention, which was a sixty-day forwards sale, was

aimed specifically at meeting the FX payment of matured obligations for the importation of agriculture and industrial

raw materials, machineries and equipment as well as Continued on page 9

All Set for Coronation of New Oba of Benin Today British govt congratulates crown prince, Buhari, Saraki, others to attend ceremony

Adibe Emenyonu in Benin City The proud and ancient Kingdom of Benin and the people of Edo State will be making history today, with the crowning of the 39th Oba of the Kingdom and the 70th ruler in the Ogiso dynasty. Little wonder the mood across the state and among Binis in particular was one of great excitement yesterday, as the city centre and its environs had been burnished for the visitors from around the world who will be trooping into the city for the coronation of Crown Prince Eheneden Erediauwa. Erediauwa will be ascending the 836-year-old throne of his forefathers, the oldest and most revered in the country. The death of his father, the 38th Oba of Benin, His Royal Continued on page 8

OUR GIRLS… SAVOURING THE AIR OF FREEDOM

President Muhammadu Buhari and Vice-President Yemi Osinbajo, surrounded by the 21 freed Chibok secondary schoolgirls, when the president hosted them in the Presidential Villa, Abuja… yesterday


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Thursday 20th October 2016 by THISDAY Newspapers Ltd - Issuu