UUBO CAPITAL MARKETS TEAM ACTS AS LEGAL COUNSEL TO ASIKO POWER LIMITED (“ASIKO POWER”) IN CONNECTION WITH THE ESTABLISHMENT OF ITS NGN50,000,000,000 (FIFTY BILLION NAIRA) BOND PROGRAMME (THE “PROGRAMME”) AND THE ISSUANCE OF ITS NGN8,000,000,000 (EIGHT BILLION NAIRA) 10 (TEN) YEARS SERIES 1 FIXED RATE SENIOR GUARANTEED BONDS (THE “SERIES 1 ISSUANCE”).
The UUBO Capital Markets team is pleased to have acted as Legal Counsel to Asiko Power Limited (“Asiko” or the “Sponsor”) in connection with the establishment of its NGN50,000,000,000 (fifty billion Naira) Bond Programme (the “Programme”) and the issuance of its NGN8,000,000.000 (eight billion Naira) 10 (ten) years Series 1 Fixed Rate Senior Guaranteed Bonds (the “Series 1 Issuance”).
The Programme was established through APL Funding SPV Plc (the “Issuer”), a special purpose vehicle set up by Asiko to raise finance from the capital market through the issuance of debt securities and the Series 1 Issuance was guaranteed by Infrastructure Credit Guarantee Company Limited.
The Sponsor is committed to expanding its business operations in Nigeria, and the Programme will be used to diversify its financing options to meet growing energy demands.
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 Taiwo Bhadmus-Ladi, Omeiza Alao, and Glory Ogueri-Onyeukwu, 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.
