INFRACREDIT SECURES STRATEGIC INVESTMENT FROM MOBILIST AND MARKS ITS LISTING ON NASD AS IT TRANSITIONS TO A PUBLIC COMPANY

Lagos, Nigeria | 14 April 2025: InfraCredit, a ‘AAA’-rated specialised infrastructure credit guarantee institution, is pleased to announce the successful equity investment by the UK Government-backed MOBILIST programme, alongside other institutional investors, further strengthening its institutional shareholder base following the completion of its equity private placement.

This strategic investment marks a major milestone in InfraCredit’s journey, reinforcing its commitment to unlocking long-term, local currency infrastructure financing in Nigeria, and creating sustainable value for its stakeholders. This equity raise involves InfraCredit’s formal transition to a Public Limited Company (PLC) and its listing by introduction on the NASD OTC Securities Exchange (“NASD”). These developments reflect InfraCredit’s continued efforts toward transparency, market development, and the attraction of long-term domestic capital for sustainable infrastructure.

The equity raise of NGN27 billion (US$17.7 million), comprising investment from MOBILIST and domestic institutional investors, will significantly strengthen InfraCredit’s guarantee issuing capacity, enabling greater support for creditworthy infrastructure projects. It will also result in the diversification of InfraCredit’s ownership structure in line with its envisioned capital structure. The NASD listing is expected to broaden investor participation, provide financial flexibility, enhance price discovery, and improved transparency for InfraCredit among a wider pool of institutional investors.

InfraCredit has played a catalytic role in de-risking infrastructure investments and mobilising over NGN264 billion in long-term local currency financing across key sectors including renewable energy, housing, transportation, logistics, power, telecoms, and manufacturing, amongst others. Its unique guarantee model supports the development of bankable projects while fostering job creation, boosting local economic growth, promoting gender equality, and advancing Nigeria’s sustainable development goals.

Commenting on this milestone, Chinua Azubike, Chief Executive Officer of InfraCredit, stated; “This moment marks the beginning of a new chapter for InfraCredit. We are pleased with the confidence reposed in us by our new domestic institutional investor shareholders alongside the UK Government through MOBILIST, and our transition to a listed public company with access to equity capital markets. This reflects our ambition to build a deeper, more inclusive capital market for domestic resources that accelerates infrastructure delivery in Nigeria in line with our mission to unlock long-term local currency infrastructure finance. By broadening our ownership and adhering to public market standards, InfraCredit aims to create long-term impact by strengthening investor confidence as a trusted catalyst for sustainable infrastructure finance as we navigate the pathway to growth and scale.”

Mr. Jonny Baxter, British Deputy High Commissioner in Lagos, commented: “InfraCredit’s success highlights the power and impact of long-term partnerships, and the UK via the Foreign Commonwealth and Development Office (FCDO) is proud to have played a key role in not just the creation of InfraCredit through the Private Infrastructure Development Group (PIDG), but its continued growth. This transaction illustrates the potential of public markets to mobilise domestic capital at scale.  By listing with the backing of MOBILIST, InfraCredit will enable local institutional investors to benefit from the growth opportunities presented by sustainable infrastructure development in their own market while ensuring that the local firms driving these projects can access the capital they need.”

Speaking on the Listing, Eguarekhide Longe, CEO, NASD commented; “NASD PLC. and InfraCredit PLC. have established a long-standing relationship initiated by the noting of the Multi-Issuer Clean Energy Bond series from 2022. The uniqueness of the Clean Energy Multi-Issuer Bond series underscores the transformational effect that InfraCredit has brought to the Nigerian Capital Market, providing guarantees as incentive to investors, mostly institutional, to participate in the infrastructure debt market. As we celebrate this landmark listing on the NASD OTC Securities Exchange, we are convinced that given the innovation-centredness of NASD PLC, the supplementary listing of the shares of InfraCredit will extend our partnership in transforming the Nigerian economic landscape one innovative transaction at a time. Congratulations to the InfraCredit team! “

For more information, please contact:

Infrastructure Credit Guarantee Company Limited

Media Enquiries: [email protected]/[email protected]

Guarantee Enquiries: [email protected]

Phone: +234 6312300

Note to the Editor

About InfraCredit

InfraCredit is a ‘AAA’ rated specialised infrastructure credit guarantee institution backed by the Nigeria Sovereign Investment Authority, InfraCo Africa (Private Infrastructure Development Group Company), KfW Development Bank, Africa Finance Corporation, African Development Bank and Domestic Institutional Investors – Leadway Assurance Company Limited and AIICO Insurance Plc, to provide local currency guarantees and mobilize long term debt financing for infrastructure in Nigeria. InfraCredit’s guarantees act as a catalyst to attract domestic credit from pension funds, insurance firms and other long-term investors into credit-worthy infrastructure projects, thereby deepening the Nigerian debt capital markets. InfraCredit operates on a commercial basis with a developmental role and benefits from private sector governance. InfraCredit maintains the highest domestic financial strength ratings accorded to any financial institution by Agusto and Co. and Global Credit Ratings Co., two of the major domestic credit rating agencies and international rating agency, Fitch Ratings.

For more information, please visit www.infracredit.ng and follow us on Linkedin and X.

About Mobilist

A flagship UK government programme, MOBILIST supports investment solutions that help deliver the climate transition and the United Nation’s Global Goals in developing economies. MOBILIST focuses on mobilising institutional capital to spur new scalable and replicable financial products. MOBILIST invests capital, delivers technical assistance, conducts research and builds partnerships to catalyse investment in new listed products.  www.mobilistglobal.com.

About FCDO

The Foreign, Commonwealth & Development Office (FCDO) pursues the UK’s national interests and projects the UK as a force for good in the world. We promote the interests of British citizens, safeguard the UK’s security, defend our values, reduce poverty and tackle global challenges with our international partners. https://www.gov.uk/government/organisations/foreign-commonwealth-development-office

About NASD

NASD PLC. (NASD) is the Over The Counter (OTC) Securities Exchange licensed by the Securities and Exchange Commission (SEC), Nigeria, to trade the securities of public unlisted companies. Since commencing operations in 2013, NASD OTC Securities Exchange has grown to accommodate over 40 securities of companies in various sectors such as Financial Services, Consumer Goods, Oil & Gas, among others. As a company, NASD has since expanded to become a multi-asset Exchange, operating multiple platforms that cater to the capital needs of companies in different stages of growth, and investors with specific investment criteria. NASD OTC Exchange is a member of the Association of Securities Exchanges of Africa (ASEA), Lagos Chamber of Commerce (LCC) and the Association of Securities Exchanges of Nigeria (ASEN).