Chapel Hill’s NIDF eyes N20.24bn from series 10 offer

Nigeria Infrastructure Debt Fund (NIDF) Series 10 offer of up to N20.24billion which opened on May 15, closes on June 13.

NIDF is sponsored by the Chapel Hill Denham Group, and Chapel Hill Denham Management Limited acts as the Fund Manager of NIDF. The Fund Manager is rated “A” by Agusto & Co.

The series 10 offer represents the Fund’s tenth (10th) capital raise since inception in 2017 and the second since its listing on Nigerian Exchange Limited (NGX).

The offer is under the N200 billion Issuance Programme. The Fund is offering 185million units of N100 each issued at N109.43.

NIDF facilitates domestic and foreign institutional capital into infrastructure development in Nigeria, which has resulted in key development outcomes.

The Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF or the Fund) is the first and only infrastructure debt fund dedicated to and domiciled in Nigeria.

‍It is classified as an Infrastructure Fund under the relevant rules and regulations of the Securities & Exchange Commission (SEC), Nigeria and the National Pension Commission, Nigeria.

The proceeds from the Offer will be applied towards infrastructure loans approved by the Fund Manager’s Investment Committee.

The Nigeria Infrastructure Debt Fund (NIDF) is Nigeria’s largest and Africa’s first-ever listed infrastructure investment trust, providing long-term, Naira-denominated financing for infrastructure projects in Nigeria.

It is a closed-ended investment trust which operates in the form of a company, registered and regulated by the Nigerian Securities and Exchange Commission and listed on FMDQ and the Nigerian Exchange (NGX).

NIDF provides investors with regular, sustained, long-term distributions and preserves capital over the long-term by generating exposure to Naira-denominated infrastructure debt in Nigeria, which generates regular and predictable long-term cash flows. It offers the most attractive yield on the NGX and has continuously paid quarterly distributions.

With its current capital base of over N104.5 billion, NIDF has a diversified and growing portfolio of infrastructure loans in a broad range of sectors including power generation, energy infrastructure, transportation, telecom, and social infrastructure (education and healthcare).

By mobilising domestic capital for financing Nigeria’s infrastructure, NIDF has established a template that can bridge the infrastructure deficit facing not just Nigeria but countries across Africa.