NSE to list Transcorp Hotels’ N10bn bond on Monday

The Nigerian Stock Exchange (NSE) has said the listing of Transcorp Hotels’ N10 billion bond will take place on Monday, January 18 barring unforeseen circumstances.

Joseph Kadiri, NSE Media Relations Officer of the Corporate Communications, in an invite sent to NEWSVERGE revealed the listing.

Recently, Mr Ade Bajomo, NSE Executive Director, Market Operations and Technology, told the News Agency of Nigeria (NAN) that the listing will spur activities at the exchange.

A NAN investigation, however, revealed that the N10 billion was the first tranche of N30 billion bond approved by the exchange for the company.

Bajomo said the bond was one of the efforts by the company to finance long-term projects, adding that the NSE was delighted with the listing.

Bajomo urged more corporate companies to float corporate bonds this year with the current economic challenges to finance long-term projects.

According to him, companies require funding to pursue more capital projects and the capital market offers the best funding for long-term development projects.