The FMDQ OTC Securities Exchange Board Listings, Markets and Technology Committee, has granted approval for the listing of the NIDF (or the Fund) – the Chapel Hill Denham Nigeria Infrastructure Debt Fund Series I 49,450,000 Units of ₦101.20 each, under the ₦200,000,000,000.00 Issuance Programme.
The Chapel Hill Denham Nigeria Infrastructure Debt Fund is the latest in these laudable initiatives that are paving the way for the development of Nigeria’s infrastructure sectors via the Nigerian DCM.
Thus, having successfully obtained the Securities and Exchange Commission’s approval, Chapel Hill Denham Management Limited registered and established the Nigeria Infrastructure Debt Fund (NDIF) ₦200,000,000,000.00 Issuance Programme, and subsequently issued the first series under this Programme – Series I 49,450,000 Units of ₦101.20 each.
The Fund, which is the first-ever listed infrastructure debt fund in Nigeria (and Sub-Saharan Africa), is a close-ended fund and has its investment focus on the traditional infrastructure sectors, primarily transport, power, renewable energy, utilities, energy infrastructure (e.g. storage terminals), logistics and other public-private-partnership type investments, thereby supporting infrastructural development in Nigeria.
The Fund aims to enable investors access infrastructure as an asset class, while providing the benefit of predictable returns available from long-dated infrastructure debt investments.
To commemorate this remarkable and historic feat, a prestigious Listing Ceremony was held at the offices of the OTC Exchange on Monday, July 17, 2017.
In recognition of the profound significance of this achievement, FMDQ pulled out all the stops during this Ceremony, to not only express this recognition and commend Chapel Hill Denham’s efforts in leveraging the Nigerian DCM in an attempt to close the nation’s infrastructure gap, but also to increase awareness, towards garnering additional nationwide support for this creditable initiative.
Present at the well-organised Ceremony were the CEO, Chapel Hill Denham Group & Chief Investment Officer, the Nigeria Infrastructure Debt Fund, Mr. Bolaji Balogun; the Managing Director, Chapel Hill Denham Management Ltd. (the Fund Manager), Mrs. Ononuju Irukwu; the Director-General, Securities and Exchange Commission (SEC), ably represented by Ms. Ojone Umoru, Assistant Director (Legal), Investment Management Department, SEC; the Managing Director, AIICO Pension & Chairman, Pension Fund Operators Association of Nigeria, Mr. Eguarekhide Longe; the Chairman, Investment Committee, Nigeria Infrastructure Debt Fund, Mr. Phillip Southwell; and other senior representatives from Chapel Hill Advisory Partners Ltd. (FMDQ’s Registration Member [Listings] & Sponsor of the Fund on the OTC Exchange), the Nigeria Sovereign Investment Authority, the African Development Bank, Pension Fund Administrators and other buy-side investors, amongst others.
The Listing Ceremony, in line with FMDQ’s tradition, was marked with memorable highlights which included, amongst other activties, a short video on FMDQ as innovative OTC Exchange; the signing of the FMDQ Funds Listing Register and presentation of the FMDQ Funds Listing Certificate; the unveiling of the FMDQ Listing Scrolls; and the special autograph impressions by the guests of honour.
