{"id":9689,"date":"2026-08-21T10:42:05","date_gmt":"2026-08-21T10:42:05","guid":{"rendered":"https:\/\/ograsset.com\/?p=9689"},"modified":"2026-08-21T10:42:06","modified_gmt":"2026-08-21T10:42:06","slug":"geregu-power-pays-8th-coupon-on-n40-1bn-bond","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/08\/21\/geregu-power-pays-8th-coupon-on-n40-1bn-bond\/","title":{"rendered":"Geregu Power pays 8th coupon on N40.1bn bond"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

G<\/strong>eregu Power pays 8th coupon on N40.1bn bond<\/strong><\/p>\n\n\n\n

Geregu Power Plc has paid the eighth coupon and part of the principal due under its N40.085bn<\/p>\n\n\n\n

Series 1 Fixed Rate Bond.<\/p>\n\n\n\n

The company disclosed the payment in a statement to the Nigerian Exchange Limited and the investing public on Thursday.<\/p>\n\n\n\n

According to the company, the payment was made to the trustees of the bond, covering both the interest obligation and part repayment of the principal.<\/p>\n\n\n\n

The bond was issued under Geregu Power\u2019s Bond Issuance Programme and has a total value of<\/p>\n\n\n\n

N40.085bn.<\/p>\n\n\n\n

The payment comes as the power company continues to meet its obligations to investors while addressing legacy matters that pre-date its current board.<\/p>\n\n\n\n

Geregu said the outstanding legacy issues would not affect its ability to meet its financial obligations.<\/p>\n\n\n\n

\u201cThe Board of Directors reaffirms its commitment to all stakeholders as part of its ongoing dedication to preserving shareholder value and upholding the highest standards of corporate governance,\u201d the company said.<\/p>\n\n\n\n

The company also thanked bondholders, the Securities and Exchange Commission, NGX and the Nigerian  Electricity Regulatory Commission  for  their  engagement  as  the  matter  was  being resolved.<\/p>\n\n\n\n

Geregu reaffirmed its commitment to complying fully with its obligations under the bond and applicable capital market rules.<\/p>\n\n\n\n

Geregu Power Plc recently faced a brief credit default on its Series 1 Senior Unsecured Bond after missing an N6.03bn obligation for its 8th coupon and 4th principal repayment.<\/p>\n\n\n\n

The FMDQ Securities Exchange flagged and updated the listing status of the Series 1 bond to \u201ccredit default\u201d. Pan-African rating agency Agusto & Co. temporarily withdrew its \u2018A-\u2019 credit rating on the company, citing visibility issues over accounts prior to the intervention.<\/p>\n\n\n\n

\u201cThe payment marks a step towards resolving Geregu Power\u2019s debt-service obligations and easing<\/p>\n\n\n\n

concerns among bond investors,\u201d said an emerging markets analyst, Ike Ibeabuchi.<\/p>\n\n\n\n

\u201cThis provides some relief to investors, although questions remain about the company\u2019s near-term debt-servicing capacity.\u201d<\/p>\n\n\n\n

Source: https:\/\/punchng.com\/geregu-power-pays-8th-coupon-on-n40-1bn-bond\/<\/a><\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Geregu Power pays 8th coupon on N40.1bn bond Geregu Power Plc has paid the eighth coupon and part of the principal due under its N40.085bn Series 1 Fixed Rate Bond. The company disclosed the payment in a statement to the Nigerian Exchange Limited and the investing public on Thursday. According to the company, the payment… <\/p>\n

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