Emerging Africa  Leads Closure of N40bn Infrastructure Bond

The Emerging Africa Group, acting as Financial Adviser and Lead Issuing House, has spearheaded the successful completion of the NEN Infrastructure Limited  10-year private bond, which was oversubscribed at N40.9 billion.

The bond, which effected the full repayment of an N36 billion Syndicated  Bridge Finance provided jointly in 2023 by Emerging Africa Capital Limited, United Bank for Africa Plc, Polaris Bank and Wema Bank Plc, and raised additional funds, is to finance a range of infrastructural projects in Bauchi State.

Sponsored and Guaranteed by the Government of Bauchi State, this issuance is the first tranche in a N100 billion programme. The funds raised will be instrumental in driving numerous infrastructure projects in Bauchi State, addressing pressing needs within the State. The projects to be funded  span critical areas such as food security, road transportation, commerce and social cohesion.

Commenting on the  transaction,  Executive Vice Chair at Emerging Africa Capital, Dr. Toyin F. Sanni,  affirmed that the success of the bond demonstrates the confidence reposed in the administration of Governor Senator Bala Mohammed  and the expertise and tenacity of the financial advisers, Emerging Africa Capital Advisory Limited and the commitment and professional abilities of all parties to the transaction.

“Leading and collaborating with a consortium of partner banks and capital market operators, the Emerging Africa Group appreciates the opportunity to advancing its commitment to proffering superior solutions to the infrastructure needs of African States, including a vision to raise and deploy up to N250 billion towards projects in Northern Nigeria between 2022 and 2027,” she added.

Emerging Africa is a leading investment banking and financial services group, dedicated to catalysing the growth of African businesses and communities through Environmental, Social, and Governance (ESG) led solutions. By harnessing talent, fostering innovation, and promoting sustainable development, Emerging Africa generates value for stakeholders through direct equity investments in subsidiary companies and by facilitating debt and equity capital financing for Corporate and Institutional clients.

The company’s diverse subsidiaries encompass Investment Banking, Asset Management, Infrastructure Finance, Financial Technology, Venture Capital and Microfinance Banking, reflecting a holistic approach to driving economic prosperity and inclusive growth across the continent.