The Access Bank UK Limited, a wholly owned subsidiary of Access Bank Plc, has successfully closed its annual syndication facility, securing a total of US$370 million across two tranches.
A signing ceremony took place at ATF’s offices in London on Friday, December 13, attended by Mr. Jamie Simmonds, Chief Executive Officer and Managing Director of Access Bank UK Limited, and Mr. Christian Karam, Managing Director of ATF Finance Ltd. The ceremony was also attended by representatives from Dentons, the legal counsel for the facility.
The facility, which was oversubscribed, saw strong participation from a diverse group of international lenders. However, due to the overwhelming demand, all lenders’ commitments were scaled down.
ATF Finance acted as the sole arranger for the transaction.
“This successful syndication demonstrates The Access Bank UK’s strong financial position and its ability to attract significant global investor interest,” said Mr. Karam. “We are very pleased with another successful outcome for the fifth year in a row. Each year, this facility has seen growing numbers of lenders from various markets supporting it with larger amounts,” he added.
The funds will be used to support the bank’s continued growth and expansion plans.
“This achievement underscores The Access Bank UK’s robust financial standing, the strength of our global relationships, and the confidence international lenders have in our strategy,” said Mr. Simmonds, “The oversubscription of this facility highlights our credibility in the international financial markets and our commitment to supporting the growth aspirations of our clients worldwide,” he added.
The Access Bank UK Limited is a wholly owned subsidiary of Access Bank Plc. Authorised by the Prudential Regulation Authority (PRA) and regulated by both the Financial Conduct Authority (FCA) and the PRA, The Bank is strategically positioned to support opportunities in the Organisation for Economic Co-operation and Development (OECD) markets for Access Bank Group and its customers.
ATF Finance is a non-bank financial institution with offices in London and Dubai, specializing in loan origination and distribution to banks. ATF support new and non-traditional financiers in lending to emerging markets and have been actively involved in syndicated and bilateral loans to major lenders in Africa.
