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Home News Nigeria: Access Bank 1st Certified Corporate Green Bond in Africa: Leadership in Green Finance

Nigeria: Access Bank 1st Certified Corporate Green Bond in Africa: Leadership in Green Finance

2 September 2019NewsMaria Ismaili

Access Bank Plc has announced the issuance of the 1st Certified corporate green bond in Africa, raising N15 billion (USD41 million). The launch ceremony was held at the FMDQ OTC Exchange.

The five-year, 15.50% fixed rate bond was fully subscribed and has been awarded an Aa- rating by Agusto & Co., with underlying framework verified by PwC (UK), and certification by the Climate Bonds Initiative.

The popularity of the issuance is another pointer to the potential of the Nigerian green finance market.

Nigeria attracted international attention in since December 2017 when it became the first nation in Africa and only the fourth nation internationally to issue a Sovereign Green Bond, raising USD29m in a Climate Bonds Certified issuance.

The Access Bank issuance is the first corporate bond to benefit from the Nigerian Green Bond Market Development Programme launched in June 2018, by FMDQ, Climate Bonds Initiative and the Financial Sector Deepening Africa (FSD Africa).

 

Read more: https://www.climatebonds.net/2019/04/nigeria-access-bank-1st-certified-corporate-green-bond-africa-leadership-green-finance

 

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The « Marrakech Pledge » for « Fostering Green Capital Markets in Africa » is a commitment by all African Capital Markets Regulators and Exchanges to act collectively in favor of sustainable development by enabling the establishment of Green Capital Markets in Africa with the aims to promote Africa as a prominent regional green financial marketplace and an attractive destination for green and climate-resilient investments.

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