Detail Commercial Solicitors (DETAIL) acted as Solicitor to the Issue of the ₦4.64 Billion Series 1 Senior Guaranteed Fixed Rate Infrastructure Bond issued by Elektron Finance SPV Plc, a funding vehicle established by Elektron Energy Development Strategies Limited.
The bond issuance, part of Elektron’s ₦200 Billion Bond Issuance Programme, is aimed at funding the ongoing development of a 30MW independent gas-fired embedded power generation plant in Victoria Island, Lagos, in collaboration with Eko Electricity Distribution Company Plc. This 15-year infrastructure bond is guaranteed by Infrastructure Credit Guarantee Company Plc (InfraCredit).
DETAIL’s Power Practice team, led by Partner, Anthony Ezeamama and supported by Associates, Ayobami Kolawole, Ifeanyi Omife, Tolulope Olayiwola, and Solicitors, Jason Onumbu, and Omolabake Sulaimon advised on this transaction and reinforces DETAIL’s longstanding commitment to supporting strategic infrastructure developments and energy transition initiatives in Nigeria.
Anthony Ezeamama shared his thoughts on the transaction: “We are honoured to have advised on a transaction that demonstrates innovation in this energy infrastructure financing which strengthens Nigeria’s distributed energy landscape. We commend the Elektron team for its visionary approach to solving the country’s power supply challenges and are proud to be part of this transformational milestone.”
DETAIL is Nigeria’s first commercial solicitor firm to specialize exclusively in non-court room practice
For further information please contact: – info@detailsolicitors.com – www.detailsolicitors.com