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 [email protected]
