Nairametrics
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Fixed Income Securities

InfraCredit guarantees TSL’s issuance of a N12 billion 10-year Series 1 Infrastructure Bonds

Chidi Emenike by Chidi Emenike
December 30, 2020
in Securities
Infracredit finalize accessing of AFDB $10 million unsecured 10-year facility

Chief Executive Officer of InfraCredit

Share on FacebookShare on TwitterShare on Linkedin

InfraCredit, a specialized infrastructure credit guarantee institution, has announced its guarantee of Transport Services Limited’s (‘’TSL’’) N12billion 10-Year Series 1 Senior Guaranteed Fixed Rate Infrastructure Bonds due 2030, as part of a larger N50billion Debt Issuance Programme.

This is according to a notification by InfraCredit, seen by Nairametrics.

Nairametrics learnt that the deal is the first 10-year bond issuance by any company in the transportation and logistics sector.

What you should know

  • Nairametrics earlier reported that InfraCredit secured an additional $27 million equity investment from InfraCo Africa.
  • The bond proceeds will be used to refinance TSL’s short-term loans to matching long term fixed rate debt that will sustainably support its consistent business growth and expansion plans.
  • Transport Services Limited (‘’TSL’’) is a leading transport and logistics company co-founded by Ayodeji Wright and Wale Fatoki in 2001. It offers value-added logistics and distribution services to a wide range of corporate and retail clientele in industries such as agro-processing, FMCG, oil and gas, cement, amongst others under fixed-term contracts.
  • Stanbic IBTC Capital Limited and ARM Securities Limited acted as joint Issuing Houses/Bookrunners for the transaction.

What they are saying

Commenting on the recent development, the Chief Executive Officer of Transport Services Ltd (TSL), Mr. Ayodeji Wright, stated that:

  • “The TSL Bond was conceived few years ago and I am profoundly grateful to the entire Project 4 Transaction Parties, TSL Bond Investors and the Regulators, who have made this become a reality today. The successful issuance of the Bond is attributable to our relentless and collaborative efforts, underscored by our track record of excellence in 19 years of existence as an indigenous logistics and evolving Mobility Company.
  • “Today, TSL remains committed to delivering its vision of providing bespoke supply chain and logistics solutions within Nigeria, and to sub-Saharan Africa. The TSL Bonds will undoubtedly be the springboard to provide the financial reinforcement to our business strategy, strong operating model and will in turn stimulate an atmosphere for profitable growth over the next decade.”

On the other hand, the CEO of InfraCredit, Chinua Azubike, remarked that,

  • “Despite the challenges brought by the recent COVID-19 pandemic, this achievement demonstrates InfraCredit’s continued support for inclusive access to long term local currency finance for infrastructure development, and the deepening of the domestic debt capital markets with good quality asset classes for domestic investors.
  • “TSL, over its 19-year history, has built a strong pedigree as a highly experienced and innovative transport and logistics service provider particularly in safety, maintenance, and journey administration. As we expand and diversify our guarantee portfolio to the transportation sector and given the importance of transport infrastructure to Nigeria’s economic recovery, we believe that our role remains vital in enabling businesses to deliver more essential infrastructure that can drive a clear and sustainable development impact on economic activities, as well as improve the livelihoods of Nigerians.”

Why it matters

According to the disclosure, Nairametrics learnt that with the support of InfraCredit’s guarantee, the Series 1 Bonds issued by TSL was accorded ‘AAA’ long term credit rating by Agusto and Co. and DataPro Limited, indicating a high level of creditworthiness and credit quality.

In lieu of this, the deal was oversubscribed by eighteen (18) institutional investors including eleven (11) domestic pension funds.

Related

Tags: InfraCreditTransport Services LimitedTSL

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Access Bank
Bankers Committee
First bank


Flowmono

Bfpeer
Mega Millions
FCMB
Ikeja Electrics
Zenith CEX
Kwakol Markets




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Bearish trend persists in the stock market as PRESCO leads losers
    • EFCC re-arraigns Dasuki, Yuguda, others over alledged misappropriation of N23.3 billion
    • Zinox says it is not ready for Jumia acquisition

    Follow us on social media:

    Recent News

    ZENITH, GTCO lose combined N6.18 billion on NGX bearish performance

    Bearish trend persists in the stock market as PRESCO leads losers

    May 23, 2022
    Next Ponzi: Why are more Nigerians falling victim to Ponzi gimmicks?

    EFCC re-arraigns Dasuki, Yuguda, others over alledged misappropriation of N23.3 billion

    May 23, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Ranking & Reviews
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • General News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com