(Ecofin Agency) - In Nigeria, the Securities and Exchange Commission has authorized Access Bank to issue its green bonds of a total value of NGN15 billion ($41.5 million).
This bond will have a maturity period of five years and has an interest rate fluctuating between 14.90% and 15.10%. Investors’ subscriptions are awaited between February 21 and 28. It is worth mentioning that Moody’s rating for this bond is B2.
Access Bank is the first African bank to issue bonds that comply with the Climate Bond Initiative standard. In June 2018, the bank and the over the counter market regulator launched a programme for the development of a green bonds market in Nigeria.