Business
Transcorp Hotels Lists N10bn Bond On NSE
Transcorp Hotels Plc,
the hospitality subsidiary of Transnational Corporation of Nigeria Plc, Monday listed its series I N10 billion bond on the Nigerian Stock Exchange (NSE) and FMDQ OTC Security Exchange.
The company which successfully closed its Series I and 2 bonds at the last quarter of 2015 has raised a total of N19,758 billion. Series I which is now listed, is a 7-year bond issued at 16.00 per cent fixed rate and maturing in 2022.
With this development, the company’s bonds are now available at the bond markets, and the investing public can trade and derive value from their investment.
This major accomplishment reiterates the company’s resolve to continuously deliver value to its stakeholders.
During the event at the NSE, the Managing Directory/Chief Executive Officer of Transcorp Hotels Plc, Valentine Ozigbo, expressed excitement over the successful completion of the company’s Series 1 and 2 bonds.
He said Series I was over subscribed by 30 per cent, while Series 2 was 98 per cent subscribed, indicating a testimony of undeniable investor confidence to the achievements and leadership of the company.
“By successfully raising these funds, we now have sufficient funding for our immediate priority projects, especially the upgrade and expansion of the multi-award winning and iconic Transcorp Hitton, Abuja,” Ozigbo said.