Paras Energy and Natural Resources Development Limited, through its funding vehicle, Paras Energy Funding SPV PLC, has announced the successful issuance of the inaugural N15.00 billion 5-year Fixed Rate Senior Unsecured Bond at a coupon of 18.00% per annum (the “Bond Issue” or the “Transaction”), issued under its N25.00 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, and transmission infrastructure. and operations and maintenance.
As a member of the African Industries Group (AIG), the company is 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 the power sector is issuing an
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