Declaration of Partnership Ceremony
InfraCredit partnered with USAID to host a signing ceremony for the declaration of partnership between USAID, InfraCredit, Gel Utility and Stanbic IBTC to support the power sector in Nigeria. The ceremony held on Thursday, February 20, 2020 at Fraser Suites, Abuja. In attendance, were the USAID Mission Director to Nigeria, Stephen Haykin, the CEO, Stanbic IBTC Trustees, Charles Omoera and the Non-Executive Director, Gel Utility Limited, Felix Achibiri, amongst others. During the ceremony, CEO of InfraCredit, Chinua Azubike gave a speech saying, ‘ We are pleased to have supported GEL Utility in collaboration with the U.S. Agency for International Development (“USAID”) to raise NGN13 billion 15-Year Series 1 Senior Guaranteed Fixed Rate Infrastructure Bonds under a NGN50 billion Debt Issuance Programme to refinance its USD denominated loans and fund its capital expenditure for the evacuation of excess power.