FMDQ Securities Exchange Ltd has listed the NSP-SPV PowerCorp PLC Series 2 Green Bond, adding another green bond to Nigeria energy market.
This bond is listed under FMDQ Securities Exchange Limited’s $121,6 million (N50 billion) Bond Issuance Programme. The proceeds from this issuance will be used to fund the development of a 15MW Pre-Phase 1 Solar Project and the transmission and evacuation infrastructure for NSP PowerCorp PLD’s Solar project.
Eng. Olubunmi Peters, executive vice-chairman/CEO of North South Power Company Limited, said: “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.”
From the archives
Nigeria moves to its second green bond issuance
The Nigerian Green Bond Market Development Programme, which provided technical support for the NSP-SPV PowerCorp PLC Series 2 of this type of bond, by facilitating crucial engagements between the parties to the transaction and selecting technical Consultants for the verification of such a bond, was launched in 2018, to create awareness and drive education required to integrate the principles of green financing into the Nigerian Debt Capital Market, as a partnership between FMDQ Group, CBI and FSD Africa.
Funso Akere, CEO of Stanbic IBTC Capital Limited (the Sponsor of the Bond on the Exchange and a Registration Member Listings of FMDQ Exchange), commented: “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.”