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Lekoil Nigeria Limited has said that its plan issuance of bonds is a transformative step for the company.
Chief Executive Officer of Lekoil Nigeria Limited, Olalekan Akinyanmi, who made the statement after receiving approval from Security and Exchange Commission on the bond programme said that the company will continue to strengthen its position in the oil and gas industry.
According to him “The approval from the SEC and invaluable support from our financial advisers, FBN Quest Merchant Bank and Iron Global Markets Limited reaffirm our commitment to operational excellence, sustainable growth, and delivering value to our stakeholders.
“The tranche-based issuance will offer local and international investors a secure, strategically backed instrument which will bolster Nigeria’s energy infrastructure. Lekoil Nigeria reaffirms its commitment to transparency, robust corporate governance, and operational excellence as it executes this program.
Lekenergy SPV Plc is a special-purpose vehicle established to support the funding needs of Lekoil Nigeria Limited’s strategic projects while Lekoil Nigeria Limited is a leading indigenous oil and gas exploration and production company focused on unlocking Nigeria’s hydrocarbon potential.
With a robust asset portfolio and a commitment to sustainable energy solutions, Lekoil Nigeria plays a vital role in driving economic growth, enhancing local content development, and contributing to Nigeria’s energy security.
Lekoil Nigeria Limited, a leading indigenous oil and gas exploration and production company, recently received approval from Security and Exchange Commission (SEC) for its N100 billion bond issuance programme.
The bond, facilitated through its investment vehicle Lekenergy SPV Plc, marks a pivotal milestone in the company’s strategic efforts to enhance its capital structure and drive long-term growth.
The signing ceremony which was held this month in Lagos brought together key stakeholders, including the team of advisors, financial institutions, and industry leaders.
The bond programme will enable Lekoil to finance critical assets development initiatives and enhance production capacity aligning with its vision to bolster Nigeria’s energy security and economic development.
Renowned financial institutions, FBN Quest Merchant Bank and Iron Global Markets Limited have been appointed as Lead Financial Adviser and Joint Financial Adviser respectively, bringing their expertise and market knowledge to ensure a seamless and successful execution.
Their involvement underscores the strong confidence of financial institutions in Lekoil Nigeria’s solid fundamentals and strategic vision.
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