PAC Capital Limited (“PAC”) (https://www.PACCapitalLtd.com/) is pleased to have acted as the Lead Financial Adviser and Fund Arranger to Access Holdings Plc (“Access Holdco”) on its recently concluded US$300 Million Investment Finance Facility.
Speaking in relation to the facility, Mr. Humphrey Oriakhi, the Managing Director, of PAC Capital (https://www.PACCapitalLtd.com/) stated that the firm is committed to providing high-quality advisory and fund arrangement services that enhance 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 US$300 Million facility obtained by Access Holdco 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.
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 such landmark transactions demonstrates that the investment banking firm is at the forefront of driving company and business growth in Africa through increased access to borderless capital.
PAC Capital has demonstrated its commitment to consolidating its activities in the financial services space with this transaction, which follows the firm’s role as Fund Arrangers to an investor and raising US$300 million for the acquisition of a majority stake in a Nigerian financial institution in 2022.
