North South Power Company Limited N6.325billion 10-Year Series II Fixed Rate Senior Unsecured Bonds Due 2031
InfraCredit is pleased to congratulate North South Power Company Limited on its successful issuance of N6.325billion 10-Year Series II Fixed Rate Senior Unsecured Bonds Due 2031 (the “Series 2 Bonds”) under its NGN50 billion Debt Issuance Programme.
In February 2019, with InfraCredit’s guarantee, NSP tapped the local debt capital markets as a first- time issuer to raise NGN8.5billion 15-Year Series 1 Guaranteed Fixed Rate Senior Green Infrastructure Bonds Due 2034
Leveraging on its historical track record supported by InfraCredit’s guarantee of its maiden Series 1 issuance, NSP established a strong credit history and improved fundamentals towards the successful issuance of Series 2 Senior Unsecured Bonds, which has no guarantee of InfraCredit.
In a statement by Chinua Azubike, CEO InfraCredit, “We congratulate the Management and Board of NSP on this milestone within two years of its initial issue, and are very pleased with the success of this transaction as it reinforces the essence of our mission, to unlock the potential for long term local currency infrastructure financing, catalyse private finance that would not otherwise flow and enhance corporate’s like NSP’s journey to self-reliance”.
