Geregu Power Lists N40.09 bln Bonds

Geregu Power Lists N40.09 bln Bonds

Geregu Power has announced the listing of its N40.09 billion on the FMDQ Exchange. The company has hinted that its capital raise is to finance operations and deepen its market footprint, meeting working capital requirements.

In a statement submitted to regulators, its management told the Nigerian Exchange Limited and the Investing public it has obtained the approval to list the N40.09 billion Series 1 Fixed Rate Senior Unsecured Bond on FMDQ Securities Exchange. READ:Geregu Power, Chaired by Femi Otedola, to Raise N40bn Bonds

Chaired by billionaire investor, Femi Otedola, Geregu Power recently lists 25 billion shares on the Nigerian Exchange at N100 per unit.

It said the bond is due for redemption in 2029, and forms part of N100 billion multi-instrument issuance program under FMDQ Exchange.

Arising from the foregoing, management stated that the Bond will be added on the FMDQ’s daily quotations and Listings page on the FMDQ Exchange website after which the Bond shall be admitted for trading.

# Geregu Power Lists N40.09 bln Bonds#

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