Chapel Hill Denham Advisory Limited and Chapel Hill Denham Management Limited announced the opening of Chapel Hill Denham Nigeria Infrastructure Debt Fund Series 7 Offer of up to N20.24 billion under the CHD NIDF’s N200 billion Issuance Programme.
What you should know
The proceeds from the offer will be applied towards infrastructure loans approved by the fund manager’s investment committee.
- It also disclosed that African Development Bank (AfDB), following its announcement in October 2018 to invest in the NIDF, will be committing the Naira equivalent of USD$10 million to the series 7 offer.
- AfDB’s commitment to the NIDF was on the back of a detailed due diligence and review process undertaken by a multi-disciplinary team of AfDB experts.
In the current volatile yield environment, the NIDF still remains a compelling investment outlet, both from a total return and cash yield perspective.
With net assets in excess of N58.6 billion, the Fund continues to deliver consistent and predictable returns, along with principal preservation to investors.
What this means
The cash yield generated by the CHD NIDF has consistently been above the 10-yr FGN. Since its inception in June 2017, the fund has delivered a total return of 82.3% (assuming the cash distributions were reinvested). Total returns for the trailing twelve months (up to September 2020) was 12.4%.
Highlights of the Chapel Hill Denham Nigeria Infrastructure Debt Fund include:
- Entity: Chapel Hill Denham Nigeria Infrastructure Debt Fund
- Fund Manager: Chapel Hill Denham Management Limited
- Structure: Close-ended Unit Trust, regulated by the Nigerian Securities & Exchange Commission. Compliant with PENCOM Investment Guidelines and SEC Rules on Infrastructure Funds.
- Program: ₦200 Billion under which the Units will be issued from time to time
- Series: 7 Offer
- Size: Up to ₦20.24 billion
- Offer: Price ₦109. 58 per unit
- Offer: Units 184,740,440 units
- Minimum Subscription: 100,000 units
- Offer: Open Date November 16, 2020
- Offer: Close Date December 9, 2020
- Listing: FMDQ-OTC