AGS NEWS – The Emerging Africa Group served as the financial adviser and lead issuing house for NEN Infrastructure Limited’s 10-year private bond, which was oversubscribed, according to a statement from Emerging Africa on Wednesday.

The bond facilitated the full repayment of a N36bn Syndicated Bridge Finance provided in 2023 by Emerging Africa Capital Limited, United Bank for Africa, Polaris Bank, and WEMA Bank.

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It raised funds for various infrastructure projects in Bauchi State, focusing on food security, road transportation, commerce, and social cohesion.

Emerging Africa noted that the funds would drive essential infrastructure projects in Bauchi State.

The issuance, sponsored and guaranteed by the Bauchi State government, is the first tranche in a N100bn program approved by the issuer.

Executive Vice Chair at Emerging Africa Capital, Dr. Toyin Sanni, highlighted that the bond’s success demonstrated confidence in Governor Bala Mohammed’s administration and the expertise of Emerging Africa Capital Advisory Limited and all parties involved.

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Emerging Africa is a prominent investment banking and financial services group focused on supporting African businesses and communities through environmental, social, and governance-led solutions.

The firm plans to raise and deploy up to N250bn towards projects in Northern Nigeria between 2022 and 2027.