Nigeria Infrastructure Debt Fund Lists on FMDQ
Lagos, 17 July 2017
Chapel Hill Denham Management Limited, the asset management unit of Chapel Hill Denham, Nigeria’s leading investment banking firm, today announced the listing of the Nigeria Infrastructure Debt Fund (“NIDF”) on the FMDQ Securities Exchange. NIDF is the first and only domestic currency, listed infrastructure debt fund across Africa and the Middle East, which is focused on mobilising domestic savings, particularly pension funds, life insurance companies, large corporates as well as family office groups, for investing in economically critical and financially viable infrastructure assets. The Fund will make loans in Naira with terms up to 10-15 years. In its initial offer, NIDF has issued an aggregate of 49,450,000 units, and has registered an issuance programme for up to 2,000,000,000 units.
Commenting at the listing ceremony, Bolaji Balogun, Chief Executive Officer of Chapel Hill Denham and Chief Investment Officer of NIDF, said: “Infrastructure funding has been a major investment theme in our firm over the last decade. We are very proud of this pioneering role and NIDF is a natural fit with our commitment to developing Nigeria and Africa’s productive infrastructure. The progressive regulatory environment in Nigeria, which enabled NIDF to be conceptualised, reaffirms the forward-thinking approach of PenCom, SEC and FMDQ. Infrastructure debt provides a uniquely attractive combination of long term, stable, predictable income and a yield higher than that available from government bonds.”
Philip Southwell, Chairman of NIDF’s Investment Committee, said: “NIDF aims to provide investors regular and stable income by making debt investments in Nigerian infrastructure projects. The market opportunity is huge in Nigeria not only because of the growth of pension fund assets but also by the availability of select high quality, investable projects.”
Anshul Rai, the Chief Executive Officer of the NIDF said: “Project owners looking for long-dated infrastructure debt now have a reliable partner in the NIDF. Also, by funding in Naira, the NIDF removes currency risk, for both investors and borrowers alike, and that helps make Nigerian infrastructure a much safer place to invest.”
About Chapel Hill Denham
Chapel Hill Denham Management is one of Nigeria’s leading asset management companies and is headquartered in Lagos, Nigeria.
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