Access Bank has finalized its first N15 billion ($40.5 million) unsecured green bond, at a fixed rate of 15.50% on the Luxembourg Stock Exchange (LuxSE). The bond was first listed on the Nigerian Stock Exchange (NSE) in 2019. Through this green debt, Access Bank intends to contribute to the fight against climate change and provide institutional investors with a way to access sustainable investments using a risky vehicle.

Group Chief Executive Herbert Wigwe said: "The Bonds will provide increased visibility for issuers as cross-listing improves green bond issuers' access to a large pool of green capital domestically and internationally." With a maturity of 5 years, the net proceeds of the issue will be used to finance new loans and refinance existing loans, in line with Access Bank's green bond framework. "Access Bank supports the Global Climate Change Mitigation and Adaptation Program, which aims to promote responsible green lending globally across its banking network. 

As a pioneer, both in domestic and international capital markets, Access Bank sees the global campaign for responsible and sustainable green finance as an opportunity for the Bank to raise capital for asset creation through climate finance," said Omobolanle Victor-Laniyan, Head of Sustainability at Access Bank Plc.