In a landmark moment for infrastructure financing in Nigeria, Craneburg EKSG Motorway Company PLC (“Craneburg EKSG” or “the Company”), in collaboration with InfraCredit, has officially signed the final documents for its N32.5 billion 20-Year 22% Fixed Rate Senior Guaranteed Infrastructure Bond issuance.
The high-profile signing ceremony, which held in The George Lagos, brought together key stakeholders from the private sectors, including representatives from Guarantor, the issuing houses, legal advisers, and capital market operators, to mark the formal close of one of Nigeria’s most strategic infrastructure bond transactions.
The proceeds from this successful issuance will be used to finance the Phase 1 construction of a 17.84km dual carriageway toll road in Ekiti State.
This project forms part of a broader 68km road network designed to unlock intra-state mobility, enhance logistics, and attract private capital into sub-national infrastructure delivery.
“We are honoured by the trust placed in us by the Ekiti State Government to deliver this transformative project under the innovative Annuity PPP Product. The Product framework has been instrumental in mobilising long-term domestic capital that enables us to sustainably finance and execute this much-needed infrastructure project. As a company recognised for quality and timely delivery, we are committed to ensuring that this project sets a new benchmark for infrastructure development at the sub-national level” said Mr Femi Edun, Chairman of Craneburg Construction Company.
“This transaction is a testament to what’s possible when innovation, strong governance, and private sector capital come together in service of national development. We are proud to have led the structuring and execution of this landmark bond issuance, the first of its kind in Nigeria’s debt capital market and proud of what it represents, a scalable blueprint for funding an infrastructure project through the capital markets.” said Bishop Sam Chidoka, Managing Director of the lead Issuing House, Anchoria Advisory Services Limited.
Anchoria Advisory Services Limited served as Lead Issuing House and Bookrunner, supported by Coronation Merchant Bank, Greenwich Merchant Bank, and Iron Global Markets Limited as Joint Issuing Houses.
This landmark transaction sets a replicable precedent for infrastructure financing across Nigeria, paving the way for future PPP-backed issuances where the private sector leads execution, risk sharing is institutionalized, and development is market-driven.
