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Geregu Power Plc has paid the sum of N6 billion (N6,026,093,363.1) owed to investors on its N40.09 billion Series 1 Senior Unsecured Bond, ending the weeks of controversy over its default.
While the company has not officially announced this, sources close to the matter confirmed the development to Nairametrics.
The default, which Nairametrics first reported on August 9, had drawn criticism from across the capital market, with many analysts weighing implications for investor confidence in the corporate bond market.
Details later
