TSL SPV Plc N12bn bond listed on NSE

TSL SPV Plc N12bn bond listed on NSE

The Nigerian Stock has announced listing of N12 billion bond of Transport Service Limited SPV under its N50 billion bond issuance.

The Series 1 Senior Guaranteed Fixed Rate Infrastructure Bond Due 2030, issued by the transport company came with a 10 per cent per cent coupon rate, accruing from the issue date.

According to the details of the bond, it has a volume of 12 million at N1,000 as unit value with the price 100 per cent at par.

It was issued on October 6, 2020 and due on October 6, 2030, amounting to a 10 year duration.

In terms of redemption/payment basis, the bonds shall be amortised semi-annually each year commencing 24 months after the issue date until the maturity date (each a redemption date); and its interest payments to be made semi-annually.

The offer opened on August 21, 2020 and closed on September 11, 2020 while ARM Securities Limited is the chosen stockbroker.