Rental scheme company Rent4Less by Alpha Mead raises US$1 million private placement bond

NIGERIA – Rent4Less by Alpha Mead, a rental scheme designed to provide a flexible and convenient option for middle income Nigerians to rent homes, has raised a fixed-rate series one US$1 million private placement bond. The Senior Secured Private bond, issued by Alpha Mead is another milestone in the series of the company’s expansion strategies to increase access to shelter…

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SODIC announces successful completion of US$21.79m 1st issuance security bond

EGYPT – Sixth of October Development and Investment (SODIC) announced the success of its subsidiary SODIC Securitization in completing the first issue of securitization bonds worth LE 343 million (US$21.79m). The company explained in a statement to the Egyptian Exchange that securitization bonds worth LE 343 million (US$21.79m) are secured by a portfolio of notes worth LE 384 million (US$24.40m),…

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IFC invests in bond to support access to affordable housing in Tanzania

TANZANIA – To help increase access to longer-term, affordable mortgages and housing in Tanzania, the International Finance Corporation (IFC), has subscribed to a corporate bond issued by the Tanzania Mortgage Refinance Company (TMRC) as a strategy to make longer-term, affordable mortgages and housing accessible in Tanzania. TMRC was listed on the Dar es Salaam Stock Exchange on July 15th. The…

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Dangote Cement successfully completes US$729m unsecured bond

NIGERIA – Dangote Cement Plc, Africa’s largest cement producer, has announced the successful issuance of 50 billion Series 1 Fixed Rate Senior Unsecured Bonds under its new N300 billion (US$729m) Multi-Instrument Issuance Programme. The bonds were issued on May 26, 2021, at coupon rates of 11.25%, 12.50% and 13.50% for the 3, 5 and 7-year tranches respectively. Despite market headwinds,…

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Maritime company C&I Leasing completes issuance of second tranche for its bond programme

NIGERIA – C&I Leasing, a Nigerian public limited maritime company, has completed the issuance of the second tranche of its N20 billion (US$48.45m) bond programme which it started in 2017. The company, which is Nigeria’s only listed leasing company also said it is optimistic that a new business model which it adopted, would help in driving revenue growth and further…

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AfDB makes its return to Australian dollar bond market with launch of US$463.9m 5yr bond

AFRICA – The African Development Bank (AfDB) has launched a A$600 million (US$463.9 million) 5.5-year Kangaroo bond, marking its return to the Australian dollar bond market. The transaction was led by Nomura and RBC Capital Markets. It is the institution’s first benchmark Kangaroo since early 2018 and it is first in the mid-curve since 2015. It is also the largest…

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NGX admits Nova Merchant Bank N10 billion bond which is due in 2027

NIGERIA – The Nigerian Exchange Group (NGX), has announced the listing of Nova Merchant Bank Plc’s N10billion (US$24.32m) Bond. The bond listed is the NOVAMBL Investments SPV N10billion Series I, 7-year 12percent subordinate unsecured fixed rate bond due 2027 under the company’s N50billion Bond Issuance Programme. “We are delighted to commemorate the listing of Nova Merchant Bank’s debut listing of…

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BUA Cement lists US$281m 7-Year unsecured bond on Nigerian Exchange

BUA to establish mega cement manufacturing complex in Nigeria

NIGERIA – BUA Cement Plc, a manufacturer of construction materials, has listed its N115billion (US$281m) 7-Year Series 1 Fixed Rate Senior Unsecured Bond on Nigerian Exchange, making it the first listing in the NGX era. The listing was commemorated with a digital Closing Gong Ceremony featuring the Chief Executive Officer (CEO), BUA Cement Plc, Engr. Yusuf Haliru Binji. NGX has…

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Seplat Petroleum issues US$650m 5-year oil and gas bond, the largest in Nigeria

NIGERIA – Seplat Petroleum Development Company Plc, a leading Nigerian independent energy Company listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), has priced its offering of US$650 million in aggregate principal amount of senior notes due 2026. It is said to be the largest ever Nigerian oil and gas bond issuance. The Notes priced…

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