Access Bank Plc was Nigeria’s largest corporate bond issuer from the banking sector in H1 2026, listing a senior unsecured bond on FMDQ and NGX with coupon rates in the 18-20% range. Access Bank simultaneously completed its MoMo fintech restructuring and is navigating a new CBN rule requiring divestment of foreign banking stakes. Access Bank’s bond programme is part of its strategy to fund organic growth and refinance existing obligations.
Capital Details
Market Significance
Access Bank is the benchmark Nigerian bank issuer — its bond pricing and uptake signals market sentiment toward Nigerian bank credit.
Risk / Considerations
CBN foreign-stake divestment rule creates uncertainty around Access Holdings' pan-African franchise valuation. High domestic interest rates increase cost of capital.
Commercial Opportunity Intelligence
Analyst Notes
Link to Corporate record: Access Holdings Plc.