TSL owns and operates a maintenance, repair & overhaul (MRO) and vehicle assembly plant with about 200 technicians, a comprehensive driver training facility installed with a driving simulator, and a journey management system for effective monitoring integrated with intelligent onboard computers for monitoring and enforcing maximum speed limits on the vehicles.
Over the years, TSL has completed several asset acquisitions and strengthened professional and strategic partnerships within the transport, logistics and financing industries. TSL’s strategic short, medium and long-term goals are to better serve their existing customers, expand their transport services and greatly improve integrated automotive services in Nigeria. TSL will continue to acquire multi-purpose assets (vehicles) that can be used to service contracts with several companies. This will reduce the need to always acquire assets to serve new clients. TSL’s ability to meet its obligations is tied to its strong and stable revenue base largely backed by contracts with major blue-chip multinationals in Nigeria including but not limited to: Lafarge Africa , Nigerian Breweries, amongst others. Furthermore, TSL SPV Plc will issue Bonds fully backed by InfraCredit to qualified institutional investors and high net worth individuals. The proceeds of the bond will largely be used for the Refinancing of existing short-term debts to matching long term fixed rate debt that will sustainably support TSL’s business growth and expansion plans.
10% Series 1 Senior Guaranteed Fixed Rate Infrastructure Bonds Due 2030 (‘the “TSL Bonds”) under a NGN50 billion Debt Issuance Programme. The N12.0 Billion Series 1 Guaranteed Bonds was accorded a ‘AAA’ credit rating by Agusto & Co. and DataPro Limited. The Series 1 Bonds was oversubscribed by 73.2% 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 sector. The transaction is the first 10-year bond issuance by any company in the transportation sector.