FRI AUG 21 2026-theGBJournal| Geregu Power Plc has confirmed the payment of the eighth coupon and part of the principal due under its ₦40.085 billion Series 1 Fixed Rate Bond, in a move aimed at easing investor concerns following recent worries over the company’s ability to meet its debt obligations.
The company said the payment had been made to the trustees of the bond, providing some relief to bondholders after the recent payment concerns surrounding the instrument.
The development is significant for Geregu, whose debt-service position has come under increased scrutiny following concerns over a missed coupon and principal repayment.
The episode had raised broader questions among investors about the company’s liquidity, financial controls and ability to meet future obligations.
In a regulatory disclosure to Nigerian Exchange Limited, the Board said the payment reaffirmed its commitment to its stakeholders and its focus on preserving shareholder value.
“The Board of Directors reaffirms its commitment to all stakeholders as part of its ongoing dedication to preserving shareholder value and upholding the highest standards of corporate governance,” the company said.
Geregu also sought to draw a distinction between the current Board and legacy issues that contributed to the recent concerns, saying it would continue to engage with relevant parties to resolve matters that predated the present Board.
The company stressed that those engagements would not affect its ability to meet its financial obligations.
“The Company will continue to engage constructively with relevant parties to resolve legacy matters predating the current Board and confirms that this process will not impact the Company’s ability to meet its obligations,” Geregu said.
The latest payment could help restore some confidence in the company’s fixed-income obligations, although investors are likely to remain cautious until Geregu demonstrates that it can maintain timely debt servicing on a sustainable basis.
The episode has also placed greater attention on Geregu’s underlying cash flows and operating performance, particularly as the power producer navigates operational pressures that have affected generation and revenue.
The G&B Journal notes that the initial response in Geregu’s equity market has been relatively muted, suggesting that investors are treating the payment as a positive development but not necessarily as a complete resolution of the concerns surrounding the company.
Geregu thanked its bondholders, the Securities and Exchange Commission (SEC), Nigerian Exchange Limited (NGX) and the Nigerian Electricity Regulatory Commission (NERC) for their continued engagement and understanding while the matter was being resolved.
The Board also reaffirmed its commitment to full compliance with its obligations.
The latest disclosure provides an important measure of relief, but the market’s confidence in Geregu is likely to depend on what comes next: consistent debt servicing, stronger operating cash flows and greater clarity around the legacy matters that triggered the recent concerns.
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