WED 17 NOV, 2021-theGBJournal- Ardova PLC Wednesday announced the establishment of its ₦60 billion Naira bond issuance programme and the successful issuance of ₦11.444 billion 7-year 13.3% fixed rate bonds and ₦13. 856 billion, 10-year 13.65% fixed rate bonds being tranches A and B respectively of the series 1 bonds under the Programme.
Commenting on the transaction, Mr. Olumide Adeosun, CEO of the Company said: “We are pleased with the successful conclusion of this transaction which again demonstrates investors’ confidence in the Company and provides additional resources for the Company to continue its expansion projects.”
The Company said the bonds are duly registered with the Securities and Exchange Commission (SEC). An application will be made to list the Bonds on the FMDQ Securities Exchange Limited.
Vetiva Capital Management Limited and Stanbic IBTC Capital Limited acted as Joint Issuing Houses, whilst Banwo & Ighodalo acted as Transaction Counsel. The trustees were advised by Aluko & Oyebode.
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