Skip to content
InfraCredit Logo
  • About us
    • Capital Providers
    • Our Board
    • Board Committee
    • Management
    • Governance
    • Our People Strategy
    • Procurement
    • Policies and Procedures
  • Our Guarantee
    • Guarantee Request
    • Our Products
    • Approval Process
  • Eligibility Criteria
  • ESG-Impact
    • ESG
    • Development Impact
    • Infrastructure Knowledge Exchange
      • Climate Finance Knowledge Exchange
  • Our Portfolio
  • Investor Relations
    • Annual General Meeting Notice
    • E-Dividend Mandate Form
    • Proxy Form
    • Audited Financial Statements
    • Unaudited Financial Statements
    • Annual Reports
    • Investor Presentations
    • Investor Factsheets
    • Shareholders Center
  • Media Center
    • Awards & Recognition
    • News & Updates
    • Press Release
    • Gallery
  • Contact
  • About us
  • Our Guarantee
  • Eligibility Criteria
  • Impact
  • Our Portfolio
  • Investor Relations
  • Media Centre
  • Contact
Close Trigger
Investor Login

InfraCredit’s Guarantee Supports Transport Services Limited’s (TSL) Issuance of A ₦12 Billion 10 Year Senior Guaranteed Fixed Rate Series 1 Infrastructure Bonds Due 2030

  • Home   |
  • InfraCredit’s Guarantee Supports Transport Services Limited’s (TSL) Issuance of A ₦12 Billion 10 Year Senior Guaranteed Fixed Rate Series 1 Infrastructure Bonds Due 2030
TSL Bonds

InfraCredit’s Guarantee Supports Transport Services Limited’s (TSL) Issuance of A ₦12 Billion 10 Year Senior Guaranteed Fixed Rate Series 1 Infrastructure Bonds Due 2030

  • December 29, 2020

Lagos, 29 December 2020: InfraCredit, a ‘AAA’ rated specialised infrastructure credit guarantee institution, is pleased to announce its guarantee of Transport Services Limited’s (‘’TSL’’) NGN12.0 billion 10-Year Series 1 Senior Guaranteed Fixed Rate Infrastructure Bonds Due 2030 (the “TSL Bonds”) under a NGN50 billion Debt Issuance Programme.

Transport Services Limited (‘’TSL’’) co-founded by Ayodeji Wright and Wale Fatoki is a leading fully integrated transport and logistics company that delivers value added logistics and distribution services to a wide range of corporate and retail clientele in industries such as agro-processing, FMCG, oil and gas, cement, amongst others under fixed term contracts. TSL operates a fleet of over 840 vehicles covering 40 approved inter-state routes across multiple locations in Nigeria.

With the support of InfraCredit’s guarantee, the Series 1 Bonds was accorded a ‘AAA’ long term credit rating by Agusto and Co. and DataPro Limited, reflecting the high degree of creditworthiness and the strong credit quality. The Series 1 Bonds was oversubscribed by eighteen (18) institutional investors including eleven (11) domestic pension funds. The transaction is the first 10-year bond issuance by any company in the transportation and logistics sector. The bond proceeds will be used to refinance its short-term loans to matching long term fixed rate debt that will sustainably support TSL’s consistent business growth and expansion plans.

In a statement, the Chief Executive Officer (‘CEO’) of Transport Services Ltd (TSL), Mr. Ayodeji Wright stated:
“The TSL Bond was conceived few years ago and I am profoundly grateful to the entire Project 4 Transaction Parties, TSL Bond Investors and the Regulators, who have made this become a reality today. The successful issuance of the Bond is attributable to our relentless and collaborative efforts, underscored by our track record of excellence in 19 years of existence as an indigenous logistics and evolving mobility company. Today, TSL remains committed to delivering its vision of providing bespoke supply chain and logistics solutions within Nigeria, and to sub-Saharan Africa. The TSL Bonds will undoubtedly be the springboard to provide the financial reinforcement to our business strategy, strong operating model and will in turn stimulate an atmosphere for a profitable growth over the next decade.

According to the CEO of InfraCredit, Chinua Azubike, “despite challenges brought by the recent COVID-19 pandemic, this achievement demonstrates InfraCredit’s continuing support for inclusive access to long term local currency finance for infrastructure development, and the deepening of the domestic debt capital markets with good quality asset classes for domestic investors. TSL, over its 19-year history, has built a strong pedigree as a highly experienced and innovative transport and logistics service provider particularly in safety, maintenance, and journey administration. As we expand and diversify our guarantee portfolio to the transportation sector and given the importance of transport infrastructure to Nigeria’s economic recovery, we believe that our role remains vital in enabling businesses to deliver more essential infrastructure that can drive a clear and sustainable development impact on economic activities as well as improve the livelihoods of Nigerians”.

Stanbic IBTC Capital Limited and ARM Securities Limited acted as joint Issuing Houses/Bookrunners for the transaction.

– ENDS –

InfraCredit Media & Guarantee Enquiries

For further enquiries, please contact:

Infrastructure Credit Guarantee Company Limited
Guarantee Enquiries : [email protected]
Phone: +234 631 2300

Quick link

  • Awards & Recognition
  • Media center
  • News & Updates
  • Projects
  • Training

INFRACREDIT’S GUARANTEE SUPPORTS CRANEBURG EKSG MOTORWAY COMPANY PLC’S ISSUANCE OF NGN32.50 BILLION 20-YEAR SENIOR GUARANTEED FIXED-RATE INFRASTRUCTURE BONDS DUE 2045

April 24, 2025

Lagos, 24 April 2025: InfraCredit, a ‘AAA’-rated specialised infrastructure credit guarantee institution, is pleased to

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

April 14, 2025

Lagos, Nigeria | 14 April 2025: InfraCredit, a ‘AAA’-rated specialised infrastructure credit guarantee institution, is

INFRACREDIT’S GUARANTEE SUPPORTS GREEN LIQUIFIED NATURAL GAS LIMITED (GLNG)’S ISSUANCE OF NGN11.85 BILLION 10-YEAR SENIOR GUARANTEED FIXED-RATE SERIES II INFRASTRUCTURE BONDS DUE 2035

March 10, 2025

Lagos, 10 March 2025: InfraCredit, a ‘AAA’-rated specialised infrastructure credit guarantee institution, is pleased to announce

Loading...

InfraCredit Capacity Building Report 2022

As at first quarter of 2019, InfraCredit, through its guarantees, facilitated firsttime access …
 Downoad Brochure

InfraCredit Capacity Building Report 2021

As at first quarter of 2019, InfraCredit, through its guarantees, facilitated firsttime access …
 Downoad Brochure

InfraCredit Capacity Building Report 2020

As at first quarter of 2019, InfraCredit, through its guarantees, facilitated firsttime access …
 Downoad Brochure

InfraCredit Capacity Building Report 2018

As at first quarter of 2019, InfraCredit, through its guarantees, facilitated firsttime access …
 Downoad Brochure
Facebook
Twitter
LinkedIn
Previous InfraCo Africa invests in InfraCredit to unlock infrastructure finance in Nigeria Next Viathan’s N10 Billion InfraCredit – Guaranteed Bond Wins Most Innovative Bond 2018 by EMEA Finance
NEWSLETTER & UPDATES

Subscribe to our newsletter to get our latest updates & news

QUICK LINKS
  • About Us
  • Our Guarantee
  • Eligibility Criteria
  • Sustainability
  • Our Portfolio
  • Investor Factsheet
  • Media Centre
  • ESG Disclosure
  • Complaint Channel
-
  • Our Board
  • Board Committee
  • Our People Strategy
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
  • Careers
  • InfraCredit STAR Academy Programme
  • Guarantee Request
CONTACT US
  • 1, Adeyemo Alakija Street, Victoria Island,
    Lagos, Nigeria
  • +234 (01) 631 2300 – 29
  • [email protected]
  • © 2025 All rights reserved by InfraCredit
Youtube Linkedin Twitter
InfraCredit Logo
Menu
  • About us
    • Capital Providers
    • Our Board
    • Board Committee
    • Management
    • Governance
    • Our People Strategy
    • Procurement
    • Policies and Procedures
  • Our Guarantee
    • Guarantee Request
    • Our Products
    • Approval Process
  • Eligibility Criteria
  • ESG-Impact
    • ESG
    • Development Impact
    • Infrastructure Knowledge Exchange
      • Climate Finance Knowledge Exchange
  • Our Portfolio
  • Investor Relations
    • Annual General Meeting Notice
    • E-Dividend Mandate Form
    • Proxy Form
    • Audited Financial Statements
    • Unaudited Financial Statements
    • Annual Reports
    • Investor Presentations
    • Investor Factsheets
    • Shareholders Center
  • Media Center
    • Awards & Recognition
    • News & Updates
    • Press Release
    • Gallery
  • Contact
Investor Login