The callable N23 billion worth of bond issued by leading technology-driven company with a focus on the digitisation of payments in Nigeria and other African countries, Interswitch Limited, has been listed on the Nigerian Stock Exchange (NSE).
l-r; Mr Oscar Onyema, chief executive officer, Nigerian Stock Exchange (NSE) and Mr Mitchell Elegbe, group managing director/founder of Interswitch Limited at the listing of N23bn Bond on Stock Exchange recently
The senior unsecured bond, with a tenor of seven years and a fixed rate of 15 percent, was admitted on the stock exchange.
It is part of a N30 billion debt issuance programme of the company and issued through a Special Purpose Vehicle known as Interswitch Africa One Plc.
Parties to this transaction were FBNQuest Merchant Bank, Stanbic IBTC Capital, ABSA Capital Markets Nigeria, FCMB Capital Markets, Quantum Zenith Capital & Investments and Rand Merchant Bank Nigeria.
Mr Mitchell Elegbe, group managing director/founder of Interswitch Limited, while speaking during the listing today, thanked the NSE for its support in achieving this feat.
“We are delighted with the outcome of our capital raising efforts. We have evolved over the past 17 years into a technology unicorn focused on providing digital solutions to customers in Nigeria and across Africa. We, therefore, see this listing as a first step in a new phase of our journey and we are determined to keep going,” he said.
Responding, Mr Oscar Onyema, chief executive officer of NSE, congratulated the management of Interswitch Limited and the professional parties to the issue for a successful debt capital raise and the subsequent listing of the bond on the exchange.
He said, “We are pleased to be a partner to Interswitch Limited in its quest to expand its footprints by raising fresh capital. We see a win for Interswitch as a win for Nigeria.
“As a sustainable Exchange and a premiere listing destination, we are committed to supporting our issuers with tailored financing options that will place them in a vantage position to compete in the regional and global markets.”