Craneburg EKSG lists N32.5 billion bonds on NGX
Craneburg EKSG Motorway Company Plc has listed its N32.5 billion Senior Guaranteed Fixed Rate Infrastructure Bonds on the Nigerian Exchange Ltd.
The NGX confirmed the listing in a statement issued on Tuesday.
The 20-year bonds, with a 22 per cent interest rate, began trading on Monday and mature in 2045.
The bond issuance opened on March 4, closed on April 7, and was officially issued on April 23, according to NGX.
Named 22.00 per cent CEMC GTEED APR 2045 (symbol: CEMC2045S1), the bonds were issued at N1,000 per unit.
A total of 32.5 million units have been listed on the Exchange.
The principal repayment will follow an amortised structure after an initial moratorium period, with equal debt service payments made semi-annually until the maturity date.
The bond is backed by Infrastructure Credit Guarantee Company Ltd. and offers a fixed annual coupon of 22 per cent.
Interest will be paid semi-annually on April 23 and October 23 each year until maturity.
For the transaction, Anchoria Investment and Securities Ltd. and CardinalStone Securities Ltd. were appointed as stockbrokers. FBNQuest Trustees Ltd and CardinalStone Registrars Ltd served as the trustees and registrars, respectively.
Anchoria Advisory Ltd acted as the lead issuing house, while Coronation Merchant Bank, Greenwich Merchant Bank, and Iron Global Markets Ltd served as joint issuing houses.
(NAN)
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