{"id":40355,"date":"2020-05-27T17:35:34","date_gmt":"2020-05-27T16:35:34","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=40355"},"modified":"2020-05-27T17:35:34","modified_gmt":"2020-05-27T16:35:34","slug":"axxela-n10-billion-bond-issue-successful-24-oversubscribed","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/","title":{"rendered":"Axxela N10 Billion Bond Issue Successful; 24% Oversubscribed"},"content":{"rendered":"

Axxela Limited (\u201cAxxela\u201d, or the \u201cCompany\u201d), a portfolio company with a vision of becoming the preferred and fastest-growing gas & power firm in sub-Saharan Africa, has concluded the\u00a0Axxela Funding 1 PLC Series 1NGN10 billion Seven-Year Fixed Rate Senior Secured Bond Issue (under the NGN50 billion Bond Issuance Programme).<\/p>\n

The Series 1 Bonds were issued by Axxela Funding 1 PLC; a special purpose funding vehicle and wholly-owned subsidiary of Axxela Limited.<\/p>\n

\"\"<\/p>\n

At the conclusion of the book build, the N10 billion issuance was 24% subscribed, and this oversubscription presented the Company with the mandate to accept an additional 15% of the proposed issuance size. This brings the Series 1 total proceeds to N11.5 billion.<\/p>\n

Speaking on the inaugural issuance, Axxela\u2019s Chief Executive Officer, Bolaji Osunsanya remarked: \u201cOur milestone debut market entry underpins the necessary symbiosis between private entities and debt capital markets. We appreciate the support of all corporates, professional parties, and investors involved in the ratification and issuance process. The favorable response indicates the level of investor confidence in our Company\u2019s reputation, brand, and performance. This funding will support our multi-pronged growth strategy of optimising our operations and assets, expanding our footprint, and revolutionising the midstream sector. As a prime portfolio company with demonstrated leadership within the sector, we remain uniquely positioned to satisfy the growing natural gas and energy demand across the sub-region.\u201d<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Axxela\u2019s strategic diversification plans include a ramp up of its gas supply and trading activities across West Africa, alongside the build out of key power and virtual pipeline infrastructure.<\/p>\n

\"\"<\/p>\n

Axxela\u2019s Chief Financial Officer, Tim Ononiwu said: \u201cThis is another remarkable feat in our growth story, and provides an appropriate financing mix for our enterprise. The oversubscription of our first capital market issuance in such a challenging market is testament to the strengths and prospects of our company. This success avails us the liquidity to implement our business plans, while lowering our cost of capital. In addition, we are well positioned to access the market in the future, giving us the opportunity to continuously provide real value for our shareholders.\u201d<\/p>\n

Chapel Hill Denham Advisory Limited and Stanbic IBTC Capital Limited were Lead Issuing Houses for Axxela, while Afrinvest (West Africa) Limited, FBNQuest Merchant Bank Limited, Rand Merchant Bank Nigeria Limited, Renaissance Securities (Nigeria) Limited, and Vetiva Capital Management Limited were Joint Issuing Houses on the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"

Axxela Limited (\u201cAxxela\u201d, or the \u201cCompany\u201d), a portfolio company with a vision of becoming the preferred and fastest-growing gas & power firm in sub-Saharan Africa, has concluded the\u00a0Axxela Funding 1 PLC Series 1NGN10 billion Seven-Year Fixed Rate Senior Secured Bond Issue (under the NGN50 billion Bond Issuance Programme).<\/p>\n","protected":false},"author":6,"featured_media":40357,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[7019],"coauthors":[2391],"class_list":["post-40355","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","tag-axxela-funding-1-plc-series"],"yoast_head":"\nAxxela N10 Billion Bond Issue Successful; 24% Oversubscribed - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Axxela N10 Billion Bond Issue Successful; 24% Oversubscribed - National Wire\" \/>\n<meta property=\"og:description\" content=\"Axxela Limited (\u201cAxxela\u201d, or the \u201cCompany\u201d), a portfolio company with a vision of becoming the preferred and fastest-growing gas & power firm in sub-Saharan Africa, has concluded the\u00a0Axxela Funding 1 PLC Series 1NGN10 billion Seven-Year Fixed Rate Senior Secured Bond Issue (under the NGN50 billion Bond Issuance Programme).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-27T16:35:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/05\/download-1-1.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"225\" \/>\n\t<meta property=\"og:image:height\" content=\"225\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/05\/download-1-1.jpeg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/05\/download-1-1.jpeg\",\"width\":225,\"height\":225},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/\",\"name\":\"Axxela N10 Billion Bond Issue Successful; 24% Oversubscribed - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/#primaryimage\"},\"datePublished\":\"2020-05-27T16:35:34+00:00\",\"dateModified\":\"2020-05-27T16:35:34+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Axxela N10 Billion Bond Issue Successful; 24% Oversubscribed\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Axxela N10 Billion Bond Issue Successful; 24% Oversubscribed - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/","og_locale":"en_US","og_type":"article","og_title":"Axxela N10 Billion Bond Issue Successful; 24% Oversubscribed - National Wire","og_description":"Axxela Limited (\u201cAxxela\u201d, or the \u201cCompany\u201d), a portfolio company with a vision of becoming the preferred and fastest-growing gas & power firm in sub-Saharan Africa, has concluded the\u00a0Axxela Funding 1 PLC Series 1NGN10 billion Seven-Year Fixed Rate Senior Secured Bond Issue (under the NGN50 billion Bond Issuance Programme).","og_url":"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/","og_site_name":"National Wire","article_published_time":"2020-05-27T16:35:34+00:00","og_image":[{"width":225,"height":225,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/05\/download-1-1.jpeg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/05\/download-1-1.jpeg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/05\/download-1-1.jpeg","width":225,"height":225},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/","name":"Axxela N10 Billion Bond Issue Successful; 24% Oversubscribed - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/#primaryimage"},"datePublished":"2020-05-27T16:35:34+00:00","dateModified":"2020-05-27T16:35:34+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/axxela-n10-billion-bond-issue-successful-24-oversubscribed\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"Axxela N10 Billion Bond Issue Successful; 24% Oversubscribed"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/40355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=40355"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/40355\/revisions"}],"predecessor-version":[{"id":40358,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/40355\/revisions\/40358"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/40357"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=40355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=40355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=40355"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=40355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}