Access Bank Plc’s parent company Access Holdco has raised $300 million to further to strengthen the bank’s capital base as proceeds of this will supplement the capital needs of its African expansion strategy.
“The investment takes the form of a Tier 1 capital qualifying mandatory convertible instrument and is expected to improve the bank’s shareholders’ funds and total capital ratios,” Access Holdings said in a statement.
PAC Capital Limited (PAC) acted as the Lead Financial Adviser and Fund Arranger to Access Holdco on its recently concluded $300 Million Investment Finance Facility.
Speaking in relation to the facility, Humphrey Oriakhi, the Managing Director, PAC Capital stated that the firm is committed to providing high quality advisory and fund arrangement services that enhances its clients’ growth and expansion prospects.
“We are delighted to bring this landmark deal to a close for our client. This is in line with our value proposition to leverage opportunities that support our clients with access to long-term and short-term funding,” Oriakhi said.
PAC Capital’s active participation in landmark transactions of this nature further corroborates that the investment banking firm is at the fore of driving company and business growth in Africa through the provision of increased access to borderless capital.
Through this deal, PAC Capital has shown its commitment towards consolidating its activities in the financial services space as this comes yet after the firm’s role as Fund Arrangers to an investor and raised US$300 million for the acquisition of majority stake in a Nigerian Financial institution in 2022.