NOVA Investment to issue N50bn bond

NOVA Investment, Stanbic IBTC, bond

Stanbic IBTC Stockbrokers has given a heads up regarding imminent commencement of book building, for a N10 billion issuance of seven-year fixed rate subordinated unsecured bond by Nova Merchant Bank Limited (NOVA). The bond will be issued via a funding vehicle, NOVAMBL INVESTMENTS SPV PLC (NOVAMBL) or simply referred to as the Issuer, is announced on Monday. The bonds are being issued under a SEC-approved N50 billion debt issuance programme. Nova Merchant Bank Limited is a licensed merchant bank in Nigeria, which is owned by experienced local and foreign investors.…

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