Aluko & Oyebode (the “Firm”) is pleased to have acted as Solicitors to the Trustees in connection with Ardova Plc’s establishment of a ₦60Billion Bond Issuance Programme (the “Programme”) and the issuance of ₦25.3Billion Series I (Tranches A and B) Bonds under the Programme (the “Issuance”).
The Issuance marks the largest Naira-denominated bond issuance from the domestic debt capital market by a Nigerian corporate in the downstream oil and gas sector. The Issuance is constituted of Tranche A ₦11.44Billion 7-year 13.3% fixed rate Bonds and Tranche B ₦13.86Billion 13.65% fixed rate Bonds.
The Firm’s transaction team was led by our Capital Markets Partner, Ayodeji Oyetunde, who was supported by our Associates, Kareemat Ijaiya and Gregory Yinka‑Gregg.
