The FMDQ admits the guaranteed fixed rate infrastructure bond TSL SPV Plc N12.00 billion series 1



Thursday March 11, 2021 / 9:30 a.m. / By FMDQ / Header image credit: FMDQ

FMDQ Securities Exchange Limited (“FMDQ Exchange” or “the Exchange”), through its Board Listings, Markets and Technology Committee, has granted the approval of the TSL SPV PLC dimensioning N12.00 billion Series 1 Guaranteed Fixed Rate Infrastructure Bonds under its 50.00 billion naira bond issuance program on the exchange platform. The bond’s listing joins a host of other corporate securities issued on the FMDQ Exchange platform this year, actively exploiting the DCM as a viable means of raising funds to meet working capital needs.

In its role as market organizer for the Nigerian Debt Capital Market (“DCM”), FMDQ Holdings PLC (“FMDQ Group” or “FMDQ”) continued its efforts to ensure that stakeholders have uninterrupted access to a credible and robust platform that allows for capital raising, risk management and value transfer, through its exchange, its central counterparty and its wholly owned custodian.

Transport Services Limited (“TSL”), set up a Special Purpose Vehicle (SPV) to raise funds through the listing of debt securities that would be used to stimulate the business expansion exercise of the ‘issuer and to restructure the debts of the company over the specified period. TSL is one of the leading providers of customized logistics and transportation solutions in Nigeria. The Company currently provides regional logistics services to clients in the Oil & Gas, Mining & Construction, Fast Turning Consumer Goods (“FMCG”) and Agriculture industries.

In a statement from the Managing Director / CEO of TSL SPV PLC, Mr. Ayodeji Wright, he said that “TSL’s Senior Secured Infrastructure Bonds were designed a few years ago and I am deeply grateful to all parties to the transaction, TSL Bond investors, InfraCredit and regulators, who made it a reality today. TSL remains committed to delivering on its vision of providing bespoke supply chain and logistics solutions in Nigeria and sub-Saharan Africa. To12.00 billion, 10% fixed rate, 10-year TSL bonds, a first in Nigeria ‘s the transport and logistics sector, which will undoubtedly be the springboard to financially strengthen our commercial strategy and our strong operating model. Its product will be used in part to stimulate an atmosphere of profitable growth for the company and in part to improve the existing business. “

In his remarks, Mr. Tokunbo Aturamu, Head of Debt Capital Markets, Stanbic IBTC Capital Limited, expressed his satisfaction with the successful issuance and listing of TSL SPV PLC securities. N50 billion in Series 1 Guaranteed Infrastructure Bonds (the “Bond Issue”). He noted that “Transport Services Limited, the sponsors of TSL SPV PLC, is a key player in the crucial logistics and distribution sector of the Nigerian economy and thanked them for participating in the bond issue” . In conclusion, Mr. Aturamu thanked the board of directors and management of Transport Services Limited for the opportunity given to Stanbic IBTC Capital to act as the main issuing house for the historic bond issue of TSL SPV PLC. as part of its $ 50 billion debt issuance program.

According to Managing Director / CEO, Infrastructure Credit Guarantee Company Limited, Mr. Chinua Azubike, “Despite the challenges posed by the recent COVID-19 pandemic, this achievement demonstrates InfraCredit’s continued support for inclusive access to finance. long-term in local currency for infrastructure development and deepening of national debt capital markets with good quality asset classes for domestic investors. TSL, over its 19 year history, has built a solid reputation as a highly experienced and innovative transportation and logistics service provider, especially in security, As we expand and diversify our portfolio guarantees in the transport sector and given the importance of transport infrastructure to Nigeria’s economic recovery, we believe our role remains essential in enabling businesses to provide more essential infrastructure that can lead to a successful and impact of sustainable development on economic activity ies as well as improving the livelihoods of Nigerians ”.

The FMDQ Group is Africa’s first vertically integrated financial market infrastructure (IMF) group to provide a single platform for transparent and cost-effective execution, risk management, clearing, settlement and brokerage services. deposit, as well as data and information services through debt capital. , foreign exchange and derivatives markets in Nigeria, through its subsidiaries, FMDQ Securities Exchange Limited, FMDQ Clear Limited and FMDQ Depository Limited.

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