Paras Energy and Natural Resources Development Limited (“Paras Energy” or the “Company”) through its funding vehicleParas Energy Funding SPV Plc (the “Issuer”)is pleased to announce the successful issuance of the inaugural₦15.00 billion 5-year Fixed Rate Senior Unsecured Bond at a coupon of 18.00% per annum (the “Bond Issue” or the “Transaction”), issued underits ₦25.00 billion Bond Issuance Programme. Rand Merchant Bank Nigeria Limited (“RMB Nigeria”) acted as Lead Issuing House and Bookrunner on the Transaction.
Paras Energy is a privately held energy company operating across the full power value chain, spanning power generation, solar engineering procurement and construction, substations, transmission infrastructure, and operations and maintenance. The Company is a member of the African Industries Group (“AIG” or the “Group”), a diversified industrial conglomerate with deep roots in the Nigerian economy and over five decades of operations in the country.
The Transaction represents the first time a privately held company in
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