PAT Digital Infra Fund lists N10bn debut bond on FMDQ exchange

The PAT Digital Infra Fund SPV PLC has listed N10 billion Series 1 Senior Guaranteed Fixed rate Bond under its N50.00 billion bond Issuance Programme on the Exchange’s Platform.

The PAT Digital Infra Fund SPV Bond, guaranteed by InfraCredit, joins a host of other corporate debt securities issued on FMDQ Exchange’s platform this year, actively tapping the Nigerian debt capital market (DCM) to raise funds to meet working capital requirements.

PAT Digital Infra Fund SPV PLC is a special purpose funding vehicle established by Pan African Towers Limited to raise finance from the DCM through the listing of debt securities. Pan African Towers is a telecommunications infrastructure company and wireless service facilitator in Nigeria aimed at catering to the telecommunication needs ranging from broadband, mobile telephony to other local value-added services in Africa.

Commenting on the successful bond Issuance, the Chairman, Pan African Towers, Mr. Oluwole Adeleke stated, “PAT Digital Infra Fund SPV PLC is grateful for InfraCredit’s support in its first issuance in the debt capital market. The guarantee is essential to the Company’s vision in being the number one wholly indigenous owned digital telecommunications infrastructure and wireless service facilitator in Nigeria. We have demonstrated capacity to achieve faster growth with solid top and bottom-line performance supported by long-term contracts with leading service providers in mobile telecommunication and internet services in Nigeria. We would also like to thank all our transaction parties for working with us in delivering a successful transaction”.