We announced our guarantee of North-South Power Company Limited’s (“NSP”)

February 27, 2019

In February 2019, we announced our guarantee of North-South Power Company Limited’s (“NSP”) NGN8.5billion 15-Year 15.60% Series 1 Guaranteed Fixed Rate Senior Green Infrastructure Bonds Due 2034 (the “Series 1 Green Bonds”) under a NGN50billion Debt Issuance Programme. NSP is the operator of a 30-year concession on the 600MW Shiroro Hydroelectric Power Plant. With InfraCredit’s guarantee, the Series 1 Green Bonds was accorded a ‘AAA’ credit rating by Agusto& Co. and Global Credit Ratings Co. and issued on 27th February 2019 as the first certified corporate green bond and the longest-tenured (15-year) corporate bond issued in the Nigerian debt capital markets approved by the SEC under a NGN50billion Debt Issuance Programme. The Series 1 Green Bonds was 160% subscribed with firm commitments from fifteen (15) institutional investors including eleven (11) pension funds and priced at 70 basis point spread to the comparable 15-year sovereign benchmark bond (FGN 2034) using the closing yield on the reference date (04 February 2019) adopted for the book building. The proceeds of the Series 1 Green Bonds will fund the overhaul of a 150MW hydropower turbine and replacement of the company’s current short term (naira and dollar denominated) bank facilities with long term local currency debt, thereby eliminating the currency and tenor mismatch in the company’s funding structure.

Quick link

InfraCredit’s Guarantee Supported by UK-Funded Climate Finance Blending Facility Mobilises First Green Certified Local Currency Debt Issue for Off-Grid Solar Rural Electrification Project in Nigeria

November 10, 2022

November 10, 2022 – Lagos, Nigeria InfraCredit, a ‘AAA’-rated specialised infrastructure credit guarantee institution, is

InfraCredit Appoints Sanjeev Gupta as Chairman, Also Welcomes Aminu Umar-Sadiq and Reginald Ihebuzor to the Board of Directors

November 4, 2022

Lagos, 4 November 2022: InfraCredit, a ‘AAA’ rated specialised infrastructure credit guarantee institution, backed by the Nigeria Sovereign Investment Authority (“NSIA”), Private Infrastructure Development Group companies GuarantCo and InfraCo Africa, KfW Development Bank, Africa Finance Corporation (“AFC”) and African Development Bank, is pleased to announce the appointment of Mr. Sanjeev Gupta of AFC as Chairman, replacing the outgoing Chairman Mr. Uche Orji of NSIA.

InfraCredit, Rural Electrification Agency Sign Memorandum of Understanding on Cooperation to Deepen Access to Long-Term Local Currency Debt Financing for Rural Electrification in Nigeria

September 2, 2022

InfraCredit, an ‘AAA’-rated specialised infrastructure credit guarantee institution and Rural Electrification Agency (“REA”), a rural

Previous InfraCredit’s Guarantee Supports North South Power’s Issuance Of The First 15-Year Corporate Green Infrastructure Bond In Nigeria Next The Board of the African Development Bank (AfDB) Approved a US$15-Million Investment Package To InfraCredit

We announced our guarantee of North-South Power Company Limited’s (“NSP”)