FCMB Capital Markets leads N11.85bn green bond to power clean energy

FCMB Capital Markets Ltd. has successfully led the issuance of GLNG Funding SPV Plc’s N11.85 billion 10-year Series 2 Senior Guaranteed Fixed Rate Infrastructure Bond, which closed in February.

The transaction reflects growing investor confidence in Nigeria’s shift towards cleaner energy solutions.The bond, issued by GLNG Funding SPV Plc and sponsored by Green Liquified Natural Gas (GLNG), forms part of a broader capital-raising initiative to fund the development of a mini-LNG facility. This plant will have the capacity to liquefy 200,000 standard cubic metres of gas per day, providing a reliable and environmentally friendly energy source for industrial use.



The project aims to reduce reliance on diesel and close the country’s persistent power supply gap by offering industries a more affordable and sustainable energy alternative.The bond issuance was backed by InfraCredit, a AAA-rated infrastructure credit guarantee company. It is projected to generate more than 500 direct jobs and create an additional 2,000 indirect employment opportunities, contributing to Nigeria’s broader agenda of inclusive and sustainable economic development.

Commenting on the transaction, Managing Director of FCMB Capital Markets, Ikechukwu Omeruah, said: “FCMB Capital Markets remains committed to supporting projects that promote clean energy use and generate long-term economic value. We are grateful for the confidence shown in us by GLNG, and we recognise the critical contributions made by InfraCredit and our investor partners in bringing this transaction to a successful close.”With the adoption of gas gaining momentum in Nigeria, a 2022 report by Clarke Energy suggests that manufacturers could reduce their energy costs by up to 30 per cent compared to grid electricity, and by as much as 80 per cent when compared to diesel usage.

FCMB Capital Markets, a subsidiary of FCMB Group, has played a pivotal role in Nigeria’s capital market landscape, facilitating the mobilisation of over N3 trillion in debt and equity capital for top-tier Nigerian corporates in the past five years.The post FCMB Capital Markets leads N11.85bn green bond to power clean energy appeared first on Nigerian NewsDirect.

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