AXXELA Limited has con-cluded the dual-listing of its Axxela Funding 1 PLC N11.5 billion Series 1 Bond on the Nigerian Stock Exchange (NSE) and the FMDQ Securities Exchange.
The senior secured bond issue with a seven-year fixed rate is part of Axxela’s N50 billion debt issuance programme issued through a special purpose vehicle – Axxela Funding 1 PLC.
Chief Executive Officer (CEO), Axxela Limited, Mr. Bolaji Osunsanya, who beat the closing gong at the NSE to commemorate the listing, described the successful issuance and listing of the bond as another feat by the company, being the first corporate bond issuance in Nigeria’s midstream space.
According to him, the success of the issue and subsequent listings are significant indicators of the increasing investor confidence in the company’s reputation, brand, and performance.
“Our milestone debut market entry also emphasises the necessary collaboration between private entities and debt capital markets, as it enables us to pursue our multi-pronged growth strategy of optimising our operations and assets, expanding our footprint, and revolutionising the midstream sector,” Osunsanya said.
He added that the net proceeds of the bond issue would be used to support the company’s enterprise on many fronts, but largely for growth projects, signifying the importance of local and international capital markets in the development of critical infrastructure.
He reiterated that the vision of Axxela remains to be the preferred gas and power firm in Sub-Saharan Africa.
Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema commended Axxela for its commitment and achievement in building its reputation and operations in the West African gas space.
“It is worthy of note that this issue which marks Axxela’s debut debt issuance was oversubscribed, giving an indication of the level of confidence in Axxela’s brand and corporate performance. NSE remains the trusted business partner in achieving your business strategy and is committed to helping issuers derive great value from their interaction in the market,” Onyema said.
