By Adedapo Adesanya
PAC Capital Limited has assured its clients of high-quality advisory and fund arrangement services that will enhance their growth and expansion prospects.
The firm made this assurance after its role as the lead financial adviser and fund arranger to Access Holdings Plc’s $300 million investment finance facility for its lending subsidiary, Access Bank Plc.
The Managing Director of PAC Capital, Mr Humphrey Oriakhi, stated that the organisation was committed to ensuring it continues to support growth and expansion for its clients.
“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.
Business Post had reported that the $300 million capital would give Access Holding Plc’s banking subsidiary the funds needed to offer financial services in its markets.
It was disclosed that the funds take “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 Bank Plc, through the injection, will be able to further strengthen its capital base as proceeds of this will supplement the capital needs of its African expansion strategy.
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 said in a statement that it had 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 $300 million for the acquisition of majority stake in a Nigerian financial institution in 2022.
Dipo Olowookere