Craneburg EKSG Motorway Company Plc has officially listed its N32.5 billion, 20-year, 22 per cent senior guaranteed fixed-rate infrastructure bond on the Nigerian Exchange Limited (NGX). The bond was admitted for trading on the exchange on Monday, July 21, 2025, marking another milestone for the Nigerian capital market in supporting infrastructure financing.
The bond, which will mature in April 2045, is fully backed by Infrastructure Credit Guarantee Company Limited (InfraCredit). It carries a fixed annual coupon rate of 22 per cent, with interest payments scheduled to be made twice a year on April 23 and October 23 until the maturity date. This arrangement ensures that investors receive predictable returns on their investment every six months.
According to a market bulletin released by NGX Regulation, the bond is named 22.00% CEMC GTEED APR 2045 and trades under the symbol code CEMC2045S1. It was issued at par value, priced at N1,000 per unit, with a total of 32.5 million units listed on the exchange. The bond issuance opened on March 4, 2025, and closed on April 7, 2025, with the official issue date set for April 23, 2025.
Principal repayments on the bond will follow an amortised structure, which means repayments of the principal amount will commence after a moratorium period. After this initial period, Craneburg EKSG Motorway Company will make equal debt service payments on a semi-annual basis until the bond’s final maturity in 2045.
Anchoria Advisory Limited acted as the lead issuing house for this significant transaction. The joint issuing houses included Coronation Merchant Bank, Greenwich Merchant Bank, and Iron Global Markets Limited. Anchoria Investment and Securities Limited and CardinalStone Securities Limited were appointed as the stockbrokers for the bond listing. Additionally, FBNQuest Trustees Limited was named the trustee, while CardinalStone Registrars Limited was appointed as the registrar.
This bond issuance is part of efforts to deepen Nigeria’s capital market and attract private capital for infrastructure development, particularly in sectors that require long-term financing solutions. The backing of InfraCredit provides investors with added confidence, as it guarantees the creditworthiness of the bond issuer, ensuring that the bondholders will receive payments as scheduled.
The Craneburg EKSG Motorway Company’s bond adds to the growing list of infrastructure-focused bonds that are being raised to support the government’s and private sector’s efforts to bridge Nigeria’s infrastructure deficit. These types of bonds are crucial for funding the development of critical infrastructure such as roads, power, transportation, and housing.
The listing also aligns with the Federal Government’s broader strategy of leveraging the capital market to finance key infrastructure projects under public-private partnership models. By tapping into the NGX, companies like Craneburg EKSG Motorway Company can access a broad investor base and mobilise capital more efficiently.
The Nigerian Exchange has recently seen increased activity in bond listings, both from corporates and government-backed entities, which is a positive sign for the nation’s economic growth aspirations. The exchange continues to position itself as a viable platform for raising long-term capital needed for national development.
Market analysts have welcomed the Craneburg EKSG Motorway bond listing, noting that the attractive 22 per cent coupon rate and the long tenor of 20 years offer institutional investors, pension funds, and long-term asset managers an opportunity to diversify their portfolios with stable and guaranteed returns.
The involvement of reputable financial institutions and advisory firms in the issuance process further underlines the credibility of the transaction and the robustness of the Nigerian capital market infrastructure. As the country seeks more private sector participation in financing infrastructure, the success of bonds like this could pave the way for more such instruments in the future.
Craneburg EKSG Motorway Company is expected to utilise the funds raised through the bond issuance to develop and maintain road infrastructure, particularly in areas where improved transport networks can stimulate economic activities and growth.
