Access Bank Plc has announced the issuance of commercial papers (CPs) worth up to N194 billion under its N400 billion CP programme.
The offering is structured into two series: Series 3 and Series 4 with varying tenors and yields.
Providing a clearer picture, the discounted rate is the percentage discount applied when buying commercial paper. Instead of paying the full-face value upfront, investors buy it at a lower price and receive the full value at maturity.