27 C
Saturday, January 16, 2021
- Advertisement -

InfraCredit Guarantees Transport Services N12bn Bond


2020: A Year Like no Other By Dakuku Peterside

The year 2020 was supposed to be a great year. It was another Leap Year – the famed Olympic Games year when...

The Time to Restructure is Now – Bola Tinubu

Being with you at this special event today, I am visited by two competing emotions. I continue to feel a profound sense...

Africa and the COVID-19 Vaccine – By Dakuku Peterside

The year 2020 will forever be synonymous with Covid-19, a pandemic that brought the world to her knees. For the first time...

Buhari is Repressing Human Rights and Getting Away With It – By Kolawole Olaniyan

President Muhammadu Buhari is failing to live up to his promises to ensure respect for human rights, obey the rule of law,...

PIDG-backed, specialised infrastructure credit guarantee company Infracredit says that it has has guaranteed Transport Services Limited’s (TSL) N12 billion 10-Year Series 1 Senior Guaranteed Fixed Rate Infrastructure Bonds Due 2030 under a N50 billion Debt Issuance Programme.

The Series 1 bond was oversubscribed by 73.2 per cent with firm commitments from 18 institutional investors including 11 domestic pension funds.

The transaction was the first 10-year bond issuance by any company in the transportation and logistics sector. The bond proceeds will be used to refinance its short-term loans to matching long term fixed rate debt that will support TSL’s consistent business growth and expansion plans.

TSL’s Chief Executive Officer Ayodeji Wright, said: “The TSL Bond was conceived few years ago and I am profoundly grateful to the entire Project 4 Transaction Parties, TSL bond investors and the regulators, who have made this become a reality today. The successful issuance of the bond is attributable to our relentless and collaborative efforts, underscored by our track record of excellence in 19 years of existence as an indigenous logistics and evolving mobility company.

“Today, TSL remains committed to delivering its vision of providing bespoke supply chain and logistics solutions within Nigeria, and to sub-Saharan Africa. The TSL bonds will undoubtedly be the springboard to provide the financial reinforcement to our business strategy, strong operating model and will in turn stimulate an atmosphere for a profitable growth over the next decade.

Infracredit’s chief executive Chinua Azubike, said: “Despite challenges brought by the recent COVID-19 pandemic, this achievement demonstrates InfraCredit’s continuing support for inclusive access to long term local currency finance for infrastructure development, and the deepening of the domestic debt capital markets with good quality asset classes for domestic investors.

“TSL, over its 19-year history, has built a strong pedigree as a highly experienced and innovative transport and logistics service provider particularly in safety, maintenance, and journey administration. “As we expand and diversify our guarantee portfolio to the transportation sector and given the importance of transport infrastructure to Nigeria’s economic recovery, we believe that our role remains vital in enabling businesses to deliver more essential infrastructure that can drive a clear and sustainable development impact on economic activities as well as improve the livelihoods of Nigerians.”

TSL, co-founded by Ayodeji Wright and Wale Fatoki, is a leading fully integrated transport and logistics company that delivers value added logistics and distribution services to a wide range of corporate and retail clientele in industries such as agro-processing, fast moving consumer goods, oil and gas, cement, amongst others under fixed term contracts.

- Advertisement -
- Advertisement -

Business Profiles

Ngozi Edozien

Ngozi Edozien is the founder and Managing Director of Invivo Partners Limited. She has over 20 years’ experience in finance/private equity, general...

Sanyade Okoli

Sanyade Okoli is Chief Executive Officer at Alpha African Advisory. She has over 21 years of financial advisory, private equity, corporate, commercial...

Samuel Nwanze

Samuel Nwanze is a director of Transcorp Power. He holds an MSc. degree in Finance and Management from Cranfield University in the...

Olukemi Adeniji

Ms Adeniji has a law degree and a Masters in International Law and Diplomacy (M.I.L.D) from the University of Lagos. She has...

Chikezie Nwosu

Chikezie Nwosu is an experienced senior executive with over 29 years local and international experience in the oil & gas industry vis-a-viz...