Paras Energy Funding SPV lists N15bn Series 1 fixed rate bond on FMDQ Exchange

FMDQ Securities Exchange Limited has approved the listing of Paras Energy Funding SPV Plc’s N15 billion 5-year 18 percent Series 1 Fixed Rate Bond under its N25 billion bond issuance programme on its platform.

Paras Energy Funding SPV Plc is a dedicated special purpose vehicle established to support the capital market financing needs of the Paras Energy group, a privately-owned independent power generation company supplying electricity to Nigeria’s national grid and industrial off-takers.

This approval by the Exchange’s board listings and markets committee underscores FMDQ Exchange’s continued role as a leading platform for long-term debt capital raising, supporting issuers in the Nigerian power and energy sector with efficient access to the capital markets.

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Tumi Sekoni, group chief operating officer, FMDQ Group Plc said, “The listing of Paras Energy Funding SPV Plc’s N15 billion Series 1 Fixed Rate Bond on FMDQ Exchange reflects the important role the debt capital markets play in financing Nigeria’s power sector. As the country continues to prioritise reliable and sustainable energy infrastructure, FMDQ Exchange remains committed to connecting credible issuers like Paras Energy Funding with the investors needed to drive long-term growth through its trusted platform.”

The proceeds from this bond issuance, sponsored by Rand Merchant Bank Nigeria Limited (Lead Sponsor) and FCMB Capital Markets Limited, both Registration Members (Listings) of the Exchange, will be used to finance the Issuer’s power generation and infrastructure expansion plans, while refinancing existing obligations to further strengthen the reliability and reach of Nigeria’s energy sector.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.