Access Bank Secures $162.5m Loan Facility

• Access Bank Secures $162.5m Loan Facility

Access Bank Plc announced it has secured a syndicated loan facility of $162.5 million.

In a statement issued by the lender on Monday, the bank said the loan facility was issued by the Netherlands Development Finance Company and was provided together with the Belgian Investment Company for Developing Countries, Blue Orchard Microfinance Fund, CDC Group Plc, German Investment Corporation, Finnfund, Oikocredit and European Financing Partners.

It further stated that the loan facility was funded by the European Investment Bank on behalf of the European Community and the Norwegion Investment Fund for Developing Countries.

Speaking on the transaction, the Group Managing Director/Chief Executive Officer, Access Bank, Herbert Wigwe, said, “We are pleased to have worked with a world-class group of lenders on this transaction. The deal further reinforces the fact that our institution remains globally respected and reputable. The syndicated facility is geared towards supporting the bank’s efforts to promote the growth and job creation potential of the private sector through improved access to financing.

“Additionally, specific attention will also be paid to strengthening micro, small and medium-size enterprises as many have been held back due to a lack of access to finance. We believe this relationship will be the beginning of many more international partnerships with such entities.”

The Chief Investment Officer, FMO, Linda Broekhuizen, said, “FMO is proud to be the mandated lead arranger for this landmark transaction. Through this transaction, the FMO strengthens its long-standing relationship and commitment to our well-reputed client, Access Bank. All lenders are pleased to be significant contributors to fostering the Nigerian economy and supporting job creation.”