Craneburg EKSG Motorway Company Plc has listed its N32.5 billion Senior Guaranteed Fixed Rate Infrastructure Bonds on the Nigerian Exchange Ltd. (NGX).
The NGX confirmed the listing in a statement issued yesterday.
These 20-year bonds, carrying an interest rate of 22 per cent, were admitted for trading on Monday and are set to mature in 2045.
According to NGX, the bond issuance opened on March 4 and closed on April 7, with an official issue date of April 23.
Named 22.00 per ce CEMC GTEED APR 2045 and trading under the symbol code CEMC2045S1, the bonds were issued at a par value of 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.
Semi-annual interest payments are scheduled for April 23 and Oct. 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.