Investment Opportunity in Access Bank Commercial Paper (182-Day at 12.50%) & T-Bills Indicative Rates

Access Bank Plc (“Access Bank”) is seeking to raise up to ₦38.5billion in the nineteenth series of the Bank’s ₦100.0 billion Commercial Paper (“CP”) Programme to finance asset creation and working capital.
*Please note that the minimum subscription is N5,000,000.00

Please see below the indicative terms of the offer subject to final terms:

Issuer Access Bank Plc (Access Bank)
Size Up to ₦38.5 billion
Tenor 182 days
Effective Yield 13.33%
Discount Rate 12.50%
Issuer Rating “Aa-” (Augusto & Co)
“A1.ng” (Moody’s)
Subscription Minimum of ₦5million and multiples of ₦1,000 thereafter
Tax Considerations Free and clear of withholding taxes
Offer Open Tuesday, 04 September, 2018
Offer Close Date Thursday, 06 September, 2018
Circulate the Allocation Notice to Investors Friday, 07 September, 2018
Investors fund their commitments Monday, 10 September, 2018

Secondary Market Treasury Bills (T-Bills) and CP Indicative Rates:

Enjoy upfront interest and attractive returns on your capital when you invest in T-Bills and CPs

T-Bills Indicative Rates:

Maturity Tenor (Days) Rate (%) p.a. Yield (%) p.a.
01-Nov-18 57 8.20 8.31
13-Dec-18 99 9.40 9.65
03-Jan-19 120 10.30 10.66
18-Jul-19 316 10.91 12.05
OMO Auction 200-300 11.30 12.06

Rates are valid till 01:45pm today (05-Sep-18)
*Please note that the minimum subscription for T-Bills is N100,000.00

CP Rates:

Type Maturity Tenor Rate (%) Yield (%)
Dangote Cement 14-May-19 253 11.50 12.50
Dangote Cement 13-Feb-19 163 11.40 12.01
Access 15-Nov-18 73 11.00 11.25

Rates are valid till 1:45pm today (05-Sep-18)
*Please note that the minimum subscription for secondary market CP is N50,000,000.00

To indicate your interest interest, kindly send an email to brokerageteam@afrinvest.com

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