DETAIL is pleased to have advised InfraCredit on its credit enhancement of Darway Coast Nigeria Limited’s green debt issue, under a co-financing arrangement with the £10 million pounds Climate Finance Blending Facility funded by the United Kingdom Foreign, Commonwealth and Development Office (FCDO) (the “Programme”).
This maiden transaction under the Programme, was financed through the said blended instrument enabling domestic institutional investors to directly invest in a 7-year fixed rate local currency debt financing for clean energy projects. Thus, making it the first-ever blended local currency green certified debt issue for a solar mini-grid project in Nigeria. DETAIL had also advised on the structuring of the Facility cofunded by the FCDO.
DETAIL congratulates the management of InfraCredit and Darway Coast Nigeria Limited on the success of this transaction. Members of the DETAIL team that worked on this transaction include Anthony Ezeamama, Temiloluwa Sotonwa, Timiebi Edo and Anne Fisher.
The transaction reflects DETAIL’s dedication to working on transactions in the energy, infrastructure, capital markets and finance space targeted at stimulating the Nigerian economy.