NSE to list N8.5bn corporate infrastructure green bond

The Nigerian Stock Exchange is set to list North South Power Company Limited’s N8.5bn corporate infrastructure green bond on the floor of the Exchange today (Wednesday).

The 15-year series 1 guaranteed fixed rate senior green infrastructure bond would be offered at 15.60 per cent and would mature in 2034.

A statement from the company on Tuesday described the bond as the first certified green corporate bond and the longest tenured corporate bond issued in the Nigeria debt capital markets.

The Chairman, North South Power Company, Mr Ibrahim Aliyu, described the success of the bond issuance as a significant milestone in the company’s long-term corporate strategy.

He said it demonstrated the company’s market leadership, innovation and commitment to the highest standards of environmental, social and corporate governance.

Aliyu said, “With the listing of the series 1 guaranteed green infrastructure bonds issuance on the NSE, the company has established a long-envisioned link with a more sustainable long-term local currency financing required to implement its ambitious strategic power generation expansion plan through the capital market.”

He said the NSE provided a unique platform to support both the Federal Government and businesses to access capital for sustainable initiatives.

The NSE, in collaboration with the Federal Ministry Environment, Federal Ministry of Finance and the Debt Management Office, had hosted a high-profile conference themed, ‘Green bonds: Investing in Nigeria’s sustainable development, in 2016 to provide an opportunity for the government to engage capital market stakeholders.

The statement said the conference was a major step towards the issuance of Nigeria’s first sovereign green bond currently listed on the Exchange.

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