• Saturday, July 13, 2024
businessday logo


PAT Digital Infra Fund SPV lists debut bond on FMDQ Exchange

Alpha Mead Facilities registers N5bn CP programme on FMDQ Exchange

FMDQ Securities Exchange Limited, through its Board Listings and Markets Committee, has approved the listing of the PAT Digital Infra Fund SPV PLC N10 billion Series 1 Senior Guaranteed Fixed Rate Bond under its N50billion Bond Issuance Programme on the Exchange’s Platform. The PAT Digital Infra Fund SPV Bond, guaranteed by InfraCredit, joins a host of other corporate debt securities issued on FMDQ Exchange’s platform this year, actively tapping the Nigerian debt capital market (DCM) to raise funds to meet working capital requirements.

PAT Digital Infra Fund SPV Plc is a special purpose funding vehicle established by Pan African Towers Limited (Pan African Towers) to raise finance from the DCM through the listing of debt securities. Pan African Towers is a telecommunications infrastructure company and wireless service facilitator in Nigeria aimed at catering to the telecommunication needs ranging from broadband, mobile telephony to other local value-added services in Africa. Commenting on the successful bond Issuance, the Chairman, Pan African Towers, Oluwole Adeleke stated, “PAT Digital Infra Fund SPV Plc is grateful for InfraCredit’s support in its first issuance in the debt capital market. The guarantee is essential to the Company’s vision in being the number one wholly indigenous owned digital telecommunications infrastructure and wireless service facilitator in Nigeria. We have demonstrated capacity to achieve faster growth with solid top and bottom-line performance supported by long-term contracts with leading service providers in mobile telecommunication and internet services in Nigeria. We would also like to thank all our transaction parties for working with us in delivering a successful transaction”.

Read also:  UAC of Nigeria registers N45bn Commercial Programme on FMDQ Exchange

Also commenting on the issuance, the sponsor of the bond and a Registration Member (Listings) of FMDQ Exchange, Chapel Hill Denham Advisory Limited, represented by its Managing Director, Kemi Awodein stated, “the firm is honoured to have been mandated on this milestone transaction. PAT Digital Infra Fund SPV PLC’s successful Issuance of the N10 billion Series 1 bond is significant for the company’s long-term vision and was well received given the invaluable support provided by the unconditional credit backing from InfraCredit. We pride ourselves on our ability to consistently deliver innovative products and are excited to have delivered a bond that improves digital infrastructure in Nigeria, enhances job creation, and domestic economic growth, as well as reduces Pan African Tower’s carbon emission.”

FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.