Business News

Stanbic IBTC Capital Facilitates Axxela’s N16.4bn 10-Year Bond Sales

Stanbic IBTC Capital

By Aduragbemi Omiyale The investment banking subsidiary of Stanbic IBTC Holdings, Stanbic IBTC Capital, has used its expertise in the Nigerian capital market to help with the successful issuance of the 10-year series 1 fixed-rate bond of Axxela Limited. The leading gas and power portfolio company recently sourced about N16.4 billion from the capital market through its incorporated funding vehicle, Axxela Funding 1 Plc. The bond, due in 2034, was issued by Axxela under its N50 billion Multi-Instrument Issuance Programme, with Stanbic IBTC Capital as the lead issuing house for the transaction. It was observed that despite the challenging economic