Access Holdings Plc(“Access Holdco”) has secured US$300 Million investment led by PAC Capital Limited (“PAC”) to drive its African Expansion plans.
The US$300 Million facility will be injected into its banking subsidiary, Access Bank Plc to further strengthen its capital base as proceeds of this will supplement the capital needs of its African expansion strategy.
Speaking in relation to the facility, Mr. 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,” Mr. Oriakhi said.
“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’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.
