Craneburg EKSG Motorway Company Plc Lists ₦32.5 Billion 20-Year Guaranteed Infrastructure Bonds on NGX

The Nigerian Exchange Limited (NGX) has announced the listing of Craneburg EKSG Motorway Company Plc’s ₦32.5 billion 20-year 22% Senior Guaranteed Fixed Rate Infrastructure Bonds due 2045.

The listing took place on Monday, July 21, 2025, providing investors with access to a new long-term infrastructure-backed investment instrument.

Bond Details

• Issuer: Craneburg EKSG Motorway Company Plc

• Guarantor: Infrastructure Credit Guarantee Company Limited

• Symbol Name: 22.00% CEMC GTEED APR 2045

• Symbol Code: CEMC2045S1

• ISIN Code: NGCEM2045S18

• Bond Description: 20-Year 22% Guaranteed Fixed Rate Bonds Due 2045

• Gross Proceeds: ₦32,500,000,000.00

• Quantity Listed: 32,500,000 units

• Unit Value: ₦1,000

• Price: At par (₦1,000)

• Coupon Rate: 22% per annum

• Tenor: 20 years

• Issue Date: April 23, 2025

• Maturity Date: April 2045

• Coupon Payment: Semi-annual (April 23 and October 23 each year)

• First Coupon Payment Date: October 23, 2025

• Redemption Basis: Amortised by equal debt service payments semi-annually after the principal moratorium period until maturity.

Transaction Parties

• Lead Issuing House: Anchoria Advisory Limited

• Joint Issuing Houses: Coronation Merchant Bank, Greenwich Merchant Bank, Iron Global Markets Limited

• Stockbrokers: Anchoria Investment and Securities Limited, CardinalStone Securities Limited

• Trustees: FBNQuest Trustees Limited

• Registrars: CardinalStone Registrars Limited

Market Significance

The bond, fully guaranteed by Infrastructure Credit Guarantee Company Limited, is expected to attract significant investor interest given its fixed 22% coupon rate and long-term tenor, designed to finance critical infrastructure development.

The listing adds depth to Nigeria’s capital market by expanding infrastructure-backed securities available to institutional and retail investors.

Analysts note that with its semi-annual coupon payments and strong guarantee structure, the CEMC 2045 Bonds present a compelling opportunity for investors seeking stable long-term returns in an environment of growing demand for infrastructure financing.