MARKET BULLETIN


25 June 2025				                                                         NGXREG/IRD/MB45/25/06/25


TSL SPV Plc: Listing of Bonds

Trading License Holders are hereby notified that the TSL SPV Plc?s N5,000,000,000 21% Series 1 Senior Guaranteed Fixed Rate Infrastructure Bonds due 2035 under the N50,000,000,000 Bond Issuance Program was listed on Nigerian Exchange Limited today, Wednesday, 25 June 2025.

Below are details of the Bonds:
Particulars	Bond
Issuer	TSL SPV PLC
Co-Obligors	Transport Service Limited
	Flomill Distribution Limited
Guarantor	Infrastructure Credit Guarantee Company Limited (?InfraCredit?)
Symbol Name	21.00% TSL GTEED JUN 2035
Symbol Code	TSL2035S1
ISIN Code	NGTSL2035S16
Bond Description	10-year 21% senior guaranteed fixed rate infrastructure bonds due 2035.
Programme Size	N50,000,000,000
Series Size	N5,000,000,000 
Quantity to be listed	5,000,000
Unit Value	1,000
Price	At par 1,000
Series Number	I
Coupon	21% p.a
Issue Date	11 March 2025
Maturity Date	30 June 2035
Tenor	10 years
Coupon Payment Basis	Semi-annual
Coupon Payment Date	30 June and 31 December commencing from 30 June 2025
Redemption/Payment Basis		The Series 1 Bonds shall be amortized by equal debt service payments semi-annually each year commencing 48 (forty-eight) months after the Issue Date until the Maturity Date 
Coupon Basis	Fixed rate
Joint Stockbrokers	ARM Securities Limited
	Anchoria Securities Limited
Lead issuing house	Anchoria Advisory Services Limited
Joint issuing houses	FCMB Capital Markets Limited
	PAC Capital Limited
	FSL Capital Limited
Trustees	Meristem Trustees Limited
Registrar	Meristem Registrars and Probate Services


This is for your information please.

 
Godstime Iwenekhai
Head, Issuer Regulation Department