Fund To Raise N20.24b For New Investments In Infrastructures.

Nigeria Infrastructure Debt Fund, which is Nigeria’s first local currency-denominated infrastructure investment trust fund, is seeking to raise N20.24 billion in new capital for additional investment in various infrastructural projects.

It is offering 185 million units of N100 par value at offer price of N109.43 under the series 10 of its N200 billion issuance programme and will close on June 13, 2024, and the issuance represents the Fund’s 10th capital raise since inception in 2017 and the second since its listing on Nigerian Exchange

Chapel Hill Denham, the fund manager, said, the proceeds from the offer will be applied towards infrastructure loans, in furtherance of the fund’s objective of supporting the growth of Nigerian infrastructures and facilitates domestic and foreign institutional capital into infrastructure development in Nigeria, which has resulted in key development outcomes.

The fund, backed by major institutional investors including the Nigeria Sovereign Investment Authority has provided long-term financing in naira for private infrastructure projects.

Chief Executive Officer, Chapel Hill Denham,  Bolaji Balogun, said, he has increased the diversity of the areas into transportation, power, as well as education, telecoms and social infrastructure among others.