Geregu Power Settles 8th Coupon on ₦40bn Bond Amid Debt Obligations

Geregu Power Plc submitted a filing to the Nigerian Exchange Limited on Thursday, August 20th, detailing its completion of the eighth coupon and partial principal repayment on the ₦40.085 billion Series 1 Fixed Rate Bond. The trustees managing this debt instrument received the transferred funds, which represent part of the company's broader issuance scheme.

At a time when Nigeria's energy sector confronts sustained financing constraints, the power company has demonstrated its continued servicing of obligations owed to bondholders. This fixed-rate bond serves as a critical funding mechanism supporting Geregu Power's operational needs and capital requirements.

Within its disclosure to both the exchange and investing community, Geregu Power's board recognized unresolved matters stemming from earlier management periods. The company maintained, however, that addressing these inherited legacy issues would not undermine its financial capacity to meet investor commitments.

Stakeholders received expressions of appreciation from the firm for maintaining their continued confidence. The timely nature of the coupon payment alongside the partial principal repayment underscores the company's assertion that despite past credit concerns documented in records, it retains the ability to service its bonded obligations.

The ₦40.085 billion bond emerged from the company's debt issuance framework, which permits multiple financing tranches sourced through capital market channels.