FMDQ Lists NSP-SPV PowerCorp’s ₦6.33bn Green Bond

FMDQ Admits Mixta Real Estate N1.02bn Commercial Paper
FMDQ Admits Mixta Real Estate N1.02bn Commercial Paper

FMDQ Securities Exchange Limited has listed the NSP-SPV PowerCorp Plc’s ₦6.33 billion Fixed Rate Series 2 Senior Unsecured Green Bonds under its ₦50.00 billion Bond Issuance Programme to its platform.

The Exchange said the listing had been  approved by its Board Listings and Markets Committee, in a statement on Monday.

According to FMDQ, the proceeds from the issuance will be used to fund the development of 15MW Pre-Phase 1 Solar Project and the transmission evacuation infrastructure for NSP PowerCorp Plc’s Solar Project, to boost the development of power in Nigeria. 

Speaking on the successful issuance of the Bond, the Executive Vice Chairman/Chief Executive Officer, North South Power Company Limited, Engr. Olubunmi Peters, stated that “this landmark transaction reinforces our belief and commitment in promoting clean energy generation in Nigeria. 

“It also demonstrates growing investor confidence in our business, management team, and long-term strategy. We remain committed to unlocking opportunities within the power and infrastructure industry and promoting a sustainable energy solution for Nigeria. 

“We thank the Lead Issuing House, Stanbic IBTC Capital Limited, as well as the Joint Issuing Houses on the transaction – Renaissance Securities Limited, AVA Capital Partners Limited, CardinalStone Partners Limited, EAC Advisory Limited, Rand Merchant Bank Nigeria Limited, and Vetiva Capital Management Limited for their hard work and commitment in ensuring a successful outcome. 

“We also thank all other professional parties, the technical consultants – TUV Nord Cert, Financial Sector Deepening Africa, Climate Bonds Initiative and the FMDQ Nigerian Green Bond Market Development Programme. 

“We also thank FMDQ Exchange and the Securities and Exchange Commission for their relentless support through the entire issuance process.”

Also, the Chief Executive Officer, Stanbic IBTC Capital Limited, the Sponsor of the Bond on the Exchange and a Registration Member Listings of FMDQ Exchange, Mr. Funso Akere said, “We are delighted to have advised on this landmark issuance which reflects the depth and diversity of the Nigerian DCM.

 “The success of the transaction demonstrates investors’ confidence in North South Power, its sector, people, and strategic direction. 

“Stanbic IBTC Capital Limited is also extremely grateful to have been given this opportunity by North South Power to add yet another successful green bond issuance to its stable. 

“The promotion of the three pillars of sustainability, that is social equity, economic viability and environmental protection, is one we keep dear to our core strategy and values, as members of Standard Bank Group.”

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