Chapel Hill Denham opens N20.24bn Series 10 infrastructure debt fund

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Chapel Hill Denham, managers of the Nigeria Infrastructure Debt Fund has announced the opening of its Series 10 Offer consisting of 185,000,000 Units of N100 each issued at N109.43.

The offer, if fully subscribed, will rank in N20.24 billion for investment in critical infrastructure with guaranteed returns for investors.

The new offer which is the 10th in the series comes under the N200 billion Issuance Programme.

According to an offer document posted on the website of the Nigerian Exchange Limited on Monday, the offer opened on May 15, 2024 and is scheduled to close on June 13, 2024.

The document further explained that, the proceeds from the offer will be applied towards infrastructure loans approved by the Fund Manager’s Investment Committee.

It added that, “The issuance represents the Fund’s tenth (10th) capital raise since inception in 2017 and the second since its Listing on Nigerian Exchange Limited.”

The Nigeria Infrastructure Debt Fund is Nigeria’s largest and Africa’s first-ever listed infrastructure investment trust, providing long-term, Naira-denominated financing for infrastructure projects in Nigeria.

It is a closed-ended investment trust which operates in the form of a company, registered and regulated by the Nigerian Securities and Exchange Commission and listed on FMDQ and the Nigerian Exchange.

NIDF provides investors with regular, sustained, long-term distributions and preserves capital over the long-term by generating exposure to Naira-denominated infrastructure debt in Nigeria, which generates regular and predictable long-term cash flows.

It offers the most attractive yield on the NGX and has continuously paid quarterly distributions.