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  • AccessBank Bond Issuance
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AccessBank Bond Issuance

Developing World Markets successfully completed the debut bond issue for AccessBank (formerly Micro Finance Bank of Azerbaijan "MFBA") via two closings in 2007 and 2008. The issue raised USD $25 million for AccessBank who is on-lending to Azeri small businesses.

The proceeds of the Bond were used to provide a 4.5-year senior loan to AccessBank for financing its portfolio growth. The transaction marked a historic step in the development of capital markets both for Azerbaijan and the world of microfinance and marked a transaction of "first":

• the first international capital markets bond issue for AccessBank;
• the first international capital markets bond issue for an Azeri issuer.

AccessBank was established in 2002 to provide financial services to Azeri small business. It is 100% foreign owned by six shareholders: the European Bank of Reconstruction and Development (EBRD), the International Finance Corporation (IFC), the Black Sea Trade and Development Bank, KfW Development Bank – the Development Bank of the German Government, LFS Financial Systems GmbH – a German consulting company that is the technical partner for the bank, and AccessHolding – a strategic investor in microfinance.