Key Features of the Bond
- Bond Name: 22.00% CEMC GTEED APR 2045
- Ticker Symbol: CEMC2045S1
- Amount: ₦32.5 billion
- Tenor: 20 years
- Maturity Date: April 2045
- Coupon Rate: 22% fixed per annum
- Interest Payments: Semi-annual (April 23 and October 23)
The bond, which officially commenced trading on Monday, July 21, 2025, was issued at par value of ₦1,000 per unit, with a total of 32.5 million units listed. The offering, opened on March 4, 2025, closed on April 7, 2025, and was issued on April 23, 2025.
Backed by Infrastructure Guarantee
The bond is guaranteed by the Infrastructure Credit Guarantee Company Limited (InfraCredit), providing additional investor confidence through credit enhancement. It adopts an amortised principal repayment structure, with a moratorium period before equal semi-annual debt service payments begin until maturity.
Consortium of Financial Partners
The bond issuance was facilitated by a syndicate of financial institutions:
- Lead Issuing House: Anchoria Advisory Limited
- Joint Issuing Houses: Coronation Merchant Bank, Greenwich Merchant Bank, Iron Global Markets Limited
- Stockbrokers: Anchoria Investment and Securities Limited, CardinalStone Securities Limited
- Trustees: FBNQuest Trustees Limited
- Registrars: CardinalStone Registrars Limited
Strategic Importance
The listing of this long-tenured, high-yield infrastructure bond reflects investor appetite for secure infrastructure assets and highlights growing market confidence in public-private partnerships and credit-enhanced debt instruments in Nigeria.
The proceeds are expected to support the development of critical motorway infrastructure under a partnership between Craneburg Construction and the Ekiti State Government (EKSG), contributing to long-term regional connectivity and economic development.
This issuance adds to a growing pipeline of infrastructure financing options in Nigeria’s capital markets, setting a benchmark for future private-sector-led infrastructure initiatives.