Nigeria’s capital market has taken another step toward strengthening digital infrastructure financing as Pathway Advisors Limited, a leading issuing house and financial advisory firm, announced the opening of Dimension Data SPV Funding Plc’s Series 1 Corporate Bond issuance valued at up to N5 billion for public subscription.
The offer marks the first tranche under a broader N20 billion Bond Programme designed to accelerate investment in Nigeria’s expanding technology and telecommunications infrastructure sector. According to Pathway Advisors on Monday, the issuance is being conducted through a Book Build process and is scheduled to close on Monday, 29 June 2026.
Describing the development as a significant milestone for the country’s evolving debt market, the firm said:
“This transaction represents a major milestone for Nigeria’s digital debt capital market. By accessing long-term local funding, Dimension Data is strategically positioned to scale its critical infrastructure, which ultimately powers the fintechs, banks, and enterprises driving the nation’s digital economy.”
The bond, which carries a tenor of three years, is being offered within a price range of 18.50 per cent to 20.00 per cent per annum. Coupon payments will be structured semi-annually, with final pricing to be determined after the book-building process is completed.
Investor confidence in the issuance has been reinforced by strong credit ratings from recognised agencies. Agusto & Co assigned a BBB+ rating to both the issuer and the bond, while DataPro Limited rated the sponsor BBB+ and assigned a stable A- rating to the bond instrument. The minimum subscription threshold has been set at N10 million, targeting institutional investors and high-net-worth participants.
Funds raised from the issuance will be directed toward strategic infrastructure expansion, with a particular focus on fibre network deployment, capacity upgrades, and improvements in service delivery. These investments are expected to enhance the backbone supporting Nigeria’s fast-growing digital economy, including fintech platforms, enterprise networks, and telecommunications services.
Incorporated in 2003, Dimension Data Limited—the sponsor of the issuance—has developed into a key player in Nigeria’s Information and Communications Technology ecosystem. The company provides a wide range of services including connectivity solutions, systems integration, and cloud infrastructure services.
It currently operates a purpose-built data centre with a 47-rack capacity and serves clients across banking, telecommunications, retail, and enterprise sectors. Notably, over 70 per cent of its major customers have maintained long-term relationships spanning more than a decade, reflecting a stable and recurring revenue base supported by annuity-like cash flows.
Pathway Advisors Limited, regulated by the Securities and Exchange Commission, reiterated its commitment to supporting capital formation and enabling access to funding that drives sustainable growth across strategic sectors of the Nigerian economy.