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
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Issuer: Craneburg EKSG Motorway Company Plc
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Guarantor: Infrastructure Credit Guarantee Company Limited
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Symbol Name: 22.00% CEMC GTEED APR 2045
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Symbol Code: CEMC2045S1
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ISIN Code: NGCEM2045S18
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Bond Description: 20-Year 22% Guaranteed Fixed Rate Bonds Due 2045
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Gross Proceeds: ₦32,500,000,000.00
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Quantity Listed: 32,500,000 units
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Unit Value: ₦1,000
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Price: At par (₦1,000)
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Coupon Rate: 22% per annum
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Tenor: 20 years
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Issue Date: April 23, 2025
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Maturity Date: April 2045
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Coupon Payment: Semi-annual (April 23 and October 23 each year)
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First Coupon Payment Date: October 23, 2025
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Redemption Basis: Amortised by equal debt service payments semi-annually after the principal moratorium period until maturity.
Transaction Parties
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Lead Issuing House: Anchoria Advisory Limited
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Joint Issuing Houses: Coronation Merchant Bank, Greenwich Merchant Bank, Iron Global Markets Limited
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Stockbrokers: Anchoria Investment and Securities Limited, CardinalStone Securities Limited
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Trustees: FBNQuest Trustees Limited
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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.
