Nigeria’s Access Bank raises $100m- CEO

Access Bank said it has raised $100 million in seven-year international bilateral debt priced below its Euro-bond yield of 7.25 per cent, to bolster its capital base, outgoing chief executive said. Mr Aigboje Aig-Imokhuede the Bank CEO said the facility will help to increase the bank’s capital adequacy ratio to 20 per cent by year-end, up from 18 percent as at its nine-month period to September. The bank would not need to issue any equity, he said. Aig-Imokhuede will retire as chief executive of the bank at the end of the year.