A Review of the Nigerian Energy Industry

Sea Truck gets N40bn facility from Access Bank

11 November 2014, Lagos – Access Bank Plc has granted a $250 million credit facility to Sea Truck Group, an international group of companies offering offshore installation, accommodation and support services to the oil and gas industry worldwide.

US dollars moneyIn explaining the capacity of the Bank to undertake deals of this magnitude, the Group Managing Director Access Bank Plc, Herbert Wigwe said that the bank has recorded commendable expansion and growth in the last decade;

“This has positioned the bank within the top 5 banks in the country. With regards to our regional spread, Access Bank is currently in 7 countries inclusive of the UK and now has an office in China with plans to establish presence in Dubai next year”.

In expressing his appreciation to Sea Truck Group for the opportunity afforded the Bank, he said that “Sea Truck Group is a company that is dear to our heart. We will always support the company in its dealings, as we are confident that this mutually beneficial relationship will provide the backbone for future robust dealings”.

Leading the Sea Trucks Group, its President/Chief Executive Officer Jacque Roomans thanked Wigwe for arranging the signing ceremony and also commended the bank for the successful close on the transaction.

“The manner with which Access Bank handled this transaction is highly commendable. This is a demonstration of how far the bank has come overtime. Sea Truck Group is proud to associate with Access Bank and will not hesitate to build on this existing relationship. I admonish other financial institutions to emulate Access Bank”, he opined.

The Executive Director, Corporate and Investment Banking, Access Bank Plc, Elias Igbinakenzua in describing the deal said that Access Bank’s capacity to support big businesses is never in doubt. In our bid to stimulate growth in the economy, we have established first class relationships with corporations and multi – nationals to position us to better support our customers” businesses.

– Vanguard

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