Alert: Forte Oil Raises N9 billion Via Corporate Bonds @17.5% Interest Rate


  • Forte Oil Nigeria Plc has raised N9 billion naira ($30 million) with the sale of five-year bonds carrying an interest rate coupon of 17.5%, under a 50 billion naira debt programme, its advisers said on Tuesday.
  • The bond was issued at a par value of 1,000 naira each and was fully subscribed, they said in a statement.
  • Forte Oil said in March it planned to raise capital to expand its operations in the West African country either through a share or bond sale.
  • Source: Reuters

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

What's your say?