Axxela Plcs Bond lists on Nigerian Stock Exchange – Nairametrics

Axxela Plcs Bond lists on Nigerian Stock Exchange – Nairametrics

The Nigerian Stock Exchange has listed the Axxela Funding 1 Plc’s N11.5 billion Series 1.

Axxela recently raised the bond under its N50 billion Issuance Programme. The bond was originally N10 billion but at the conclusion of the book build, the issuance was 24% oversubscribed, and the development presented the company with the mandate to accept an additional 15 per cent of the proposed issuance size.

<!– /21634543682/Zenith_Bank 320×100

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1550847485533-0’); });

Zenith bank | USSD codeZenith bank | USSD code

UCAP adsUCAP ads

–>

UBA ADSUBA ADS

READ MORE: Dangote Cement Plc floats another N50 billion commercial paper

Highlights of Axxela bond Issuance programme are as follow;

Bond Description N11, 500,000,000 – 14.30% Fixed Rate Series 1 Bond Due 2027 under the N50, 000,000,000

GTBank 728 x 90GTBank 728 x 90

Security Name: 14.30% AXA MAY 2027

Series Amount: N11, 500,000,000

Volume: 11,500,000

onebank728 x 90onebank728 x 90

Unit Value: 1,000

Price: N1, 000

Coupon: 14.30% Fixed Rate

<!–/21634543682/FCMB-2-Mobile

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1570801017692-0’); });

FCMB ads 300 x 250FCMB ads 300 x 250

–>

appapp

Issue Date: 20 May 2020

Maturity Date: 20 May 2027

Tenor: 7 years

devlanddevland

Coupon Payment: Date Semi-annual coupon payments, payable in arrears on the 6th and 12th month of each year on the Issue date up to and including the Maturity Date.

READ MORE: Get access to Eurobonds on Wealth.ng

appapp

Speaking on the inaugural issuance, Chief Executive Officer, Axxela Limited, Bolaji Osunsanya said: “Our milestone debut market entry underpins the necessary symbiosis between private entities and debt capital markets. We appreciate the support of all corporates, professional parties, and investors involved in the ratification and issuance process.  

Explore Data Research from Nairametrics by Visiting Nairametrics

“The favorable response indicates the level of investor confidence in our company’s reputation, brand, and performance. This funding will support our multi-pronged growth strategy of optimizing our operations and assets, expanding our footprint, and revolutionizing the midstream sector. As a prime portfolio company with demonstrated leadership within the sector, we remain uniquely positioned to satisfy the growing natural gas and energy demand across the sub-region.” 

 

Tags:

Share this post

Post Comment