Construction company Craneburg ESKG Motorway has listed its N32.5 billion 20-year Senior Guaranteed Infrastructure Bond on the Nigerian Exchange Limited (NGX).
The listing, disclosed in a market bulletin issued by the NGX and signed by Godstime Iwenekhai, Head of Issuer Regulation, follows the bond’s official launch in early March 2025.
Trading under the symbol CEMC2045S1, it is a fixed-rate instrument with a 22% coupon, priced at N1,000 per unit, and set to mature in April 2045.
Designed to offer returns to investors and backed by InfraCredit Guarantee, coupon payments will be made semi-annually on April 23 and October 23.
Anchoria Investment and CardinalStone Securities Limited serve as the stockbrokers, with Anchoria acting as the lead issuing house.
- The joint issuing houses include Coronation Merchant Bank, Greenwich Merchant Bank, and Iron Global Markets Limited.
- FBNQuest Trustees Limited is the trustee, while CardinalStone Registrars Limited is the registrar.
The listing follows the formal launch of the bond in March 2025, as previously announced by the company.
March launch
In March 2025, Craneburg EKSG Motorway Company announced the launch of the 20-year infrastructure bond, backed by InfraCredit’s guarantee.
The announcement, shared in a statement to Nairametrics, emphasized that the bond provides investors with an opportunity to support infrastructure projects anchored on stable, long-term revenue streams.
Proceeds from the bond are earmarked to finance the Phase 1 construction of a 17.84km dual carriageway toll road in Ekiti State.
According to the company, “By mobilizing long-term capital, the project seeks to enhance essential road infrastructure, stimulate economic growth, and elevate the overall quality of life.”
What to know
The bond, with a nominal value of N32.5 billion, has a net issuance cost of N663.32 million (2.04% of the total).
Of the total, N28.37 billion (87.28%) will be earmarked for capital expenditures, N3.37 billion (10.37%) for debt reserve requirements, and N100 million (0.31%) for project preparation costs.
According to Craneburg, the bond backs an AAA rating from Agusto & GCR and has received approval from the Securities and Exchange Commission (SEC) for regulatory compliance.
The bond also complies with PenCom regulations, making it eligible for investment by Pension Fund Administrators (PFAs).
About the company
Craneburg Construction Company is a private construction group in Nigeria that provides services across various sectors. It was founded in 2013.
With a workforce of over 7,000, the company undertakes projects in multiple industries, emphasizing a client-focused approach based on its experience with Tier 1 and large corporations.
