Craneburg EKSG Motorway Company Plc has officially listed its ₦32.5 billion Senior Guaranteed Fixed Rate Infrastructure Bonds on the Nigerian Exchange Limited, NGX, marking a significant step toward boosting infrastructure financing in Nigeria.
The 20-year bonds, backed by the Infrastructure Credit Guarantee Company Ltd. (InfraCredit), were admitted to the NGX’s trading platform on Monday, July 21, 2025. The NGX confirmed the listing in a statement released on Tuesday, noting that the issuance had received strong institutional interest during its offer period.
The debt instrument, titled 22.00% CEMC Guaranteed Bond April 2045 (CEMC2045S1), was issued at a par value of ₦1,000 per unit, with a total of 32.5 million units listed. The bond was launched with a fixed annual interest rate of 22%, positioning it among the more attractive infrastructure bond offerings in Nigeria in recent years.
According to NGX, the offer opened on March 4 and closed on April 7, with the official issue date set as April 23, 2025. The bonds are structured to follow an amortised repayment plan after an initial moratorium period, with equal debt service payments made semi-annually through to maturity in April 2045.
Interest payments are scheduled for April 23 and October 23 each year until full repayment. The robust fixed return structure is expected to appeal to long-term investors including pension funds, insurance companies, and infrastructure-focused investment vehicles.
Strategic Financial Backing and Participants
The Craneburg EKSG bond enjoys a full guarantee from InfraCredit, which enhances the credit quality and bankability of the instrument. This support is crucial for investor confidence, particularly given the long tenor and the infrastructure nature of the bond.
The transaction also featured a strong lineup of financial institutions. Anchoria Advisory Ltd. acted as the Lead Issuing House, coordinating the bond structuring and placement. It was joined by three co-issuing houses: Coronation Merchant Bank, Greenwich Merchant Bank, and Iron Global Markets Ltd., all of which helped facilitate the offer.
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On the capital market side, Anchoria Investment and Securities Ltd. and CardinalStone Securities Ltd. served as stockbrokers, while FBNQuest Trustees Ltd. and CardinalStone Registrars Ltd. were appointed as the bond’s trustees and registrars, respectively.
Craneburg EKSG Motorway Company is a special purpose vehicle established to drive key transport and road infrastructure projects. Proceeds from the bond issue are expected to finance the development, expansion, and maintenance of critical motorway projects in Ekiti State and beyond.
By tapping the capital market through NGX, the company seeks to bridge Nigeria’s persistent infrastructure financing gap while offering investors strong, long-term returns.
The listing underscores the Nigerian Exchange’s ongoing efforts to deepen its fixed income market and support long-tenure financing instruments tailored for national development.
Industry analysts have hailed the development as a promising sign for Nigeria’s domestic capital markets and a vote of confidence in the country’s long-term infrastructure prospects.
With rising interest from domestic investors in infrastructure assets, the Craneburg EKSG bond may pave the way for other state-backed or private infrastructure projects to access similar funding through the NGX.
NAN
