Axxela Limited, a portfolio company with a vision of becoming the preferred and fastest-growing gas & power firm in sub-Saharan Africa, has concluded the Axxela Funding 1 Plc Series 1 N10 billion Seven-Year Fixed Rate Senior Secured Bond Issue its under the N50 billion Bond Issuance Programme.
At the conclusion of the book build, the N10 billion issuance was 24 per cent oversubscribed, and this oversubscription presented the company with the mandate to accept an additional 15 per cent of the proposed issuance size. This brings the Series 1 total proceeds to N11.5 billion.
At the conclusion of the book build, the N10 billion issuance was 24 per cent oversubscribed, and this oversubscription presented the company with the mandate to accept an additional 15 per cent of the proposed issuance size. This brings the Series 1 total proceeds to N11.5 billion.