FMDQ admits NSP-SPV PowerCorp Plc N50bn Green Bond issuance programme




FMDQ Securities Exchange Limited has listed , the NSP-SPV PowerCorp PLC N6.33 billion Fixed Rate Series 2 Senior Unsecured Green Bonds under its N50.00 billion Bond Issuance Programme, on its platform.

The bond listing was in furtherance of the Exchange commitment to enhance access to capital to address environmental challenges, as well as championing development in the Nigerian Debt Capital Market.

The FMDQ Exchange said that the proceeds from this 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, further fuelling 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, Engineer. 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 (“FSD Africa”), Climate Bonds Initiative (“CBI”) 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. “

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