The UUBO Capital Markets team is pleased to have acted as Legal Counsel to Asiko Power Limited (“Asiko Power”) in connection with the establishment of its NGN2,500,000,000.00 (two billion, five hundred million Naira) Commercial Paper Issuance Programme (the “Programme”) and the Series 1 commercial paper issuance under the Programme. The Series 1 Issuance is for a tenor of 270 days, priced at a yield of 29%.
Asiko Power is a Nigerian energy company focused on providing cleaner and cost-effective energy alternatives and offering integrated energy solutions. Asiko Power’s decision to establish the Programme and the CP Issuance aligns with its strategy to improve its operations in Nigeria, with the proceeds being deployed towards its short-term working funding requirements.
The UUBO team was led by our Capital Markets partner, Nicholas Okafor. He was supported by Lisa Esamah, a Senior Associate in the Capital Markets team, and Tomisin Bhadmus-Ladi, Omeiza Alao, and Josephine Ukpong, all Associates in the Capital Markets team.
For more information on UUBO’s Capital Markets practice and other practice areas of the firm, please contact us at uubo@uubo.org and visit www.uubo.org.