The Federal Government on Tuesday unveiled plans to raise about N729bn through the second tranche of its Power Sector Multi-Instrument Issuance Programme as it intensified efforts to clear legacy debts in Nigeria’s electricity industry.
According to the issuance timetable presented by CardinalStone Partners, the lead issuing house and financial adviser to the transaction, the bond offer will open on August 3, close on August 14 after 10 working days, and achieve funding on August 24, subject to regulatory approvals.
The planned issuance follows the successful deployment of N501bn under the maiden Series I bond and the payment of the first coupon of about N63.5bn on schedule, developments the government said had strengthened investor confidence.
Speaking at the NBET Finance Company Plc Series II Bond Investors’ Forum in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the government was returning to the capital market only
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