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Due to its commitment in deepening the Nigerian capital market, the Nigerian Stock Exchange (NSE), at the weekend, listed Interswitch Limited’s N23 billion bond.
The Callable Senior Unsecured Bond, with a tenor of seven years, at a fixed rate of 15 per cent, is part of a N30 billion Debt Issuance Programme issued through a Special Purpose Vehicle – Interswitch Africa One Plc.
Commenting on the listing, the Chief Executive Officer of NSE, Oscar Onyema, congratulated the management of Interswitch Limited and the professional parties to the issue for a successful debt capital raise and the subsequent listing of the bond on the Exchange.
“We are pleased to be a partner to Interswitch Limited in its quest to expand its footprints by raising fresh capital. We see a win for Interswitch as a win for Nigeria.
“As a sustainable Exchange and a premiere listing destination, we are committed to supporting our issuers with tailored financing options that will place them in a vantage position to compete in the regional and global markets,” Onyema said.
For his part, the Group Managing Director/Founder, Interswitch Limited, Mitchell Elegbe, expressed delight over the outcome of its capital raising efforts.
He said, “we have evolved over the past 17 years into a technology unicorn focused on providing digital solutions to customers in Nigeria and across Africa. We, therefore, see this listing as a first step in a new phase of our journey and we are determined to keep going.” He went on to thank the Exchange for its support in achieving this feat.
