FCMB Capital Markets Limited successfully led the issuance of GLNG Funding SPV Plc’s ₦11.85bn 10-Year Series 2 Senior Guaranteed Fixed Rate Infrastructure Bond, which closed in February.

This milestone, according to FCMB, underscores the level of investor confidence in Nigeria’s clean energy transition.

The bond, issued by GLNG Funding SPV Plc and sponsored by Green Liquified Natural Gas (GLNG) as part of its capital-raising plans, the statement noted, is a key step in financing the construction of a mini-LNG plant with a liquefaction capacity of 200,000 standard cubic meters of gas per day.

The facility, it added, will help bridge Nigeria’s power supply gap and offer industries a cleaner, cost-effective alternative to diesel.

The issuance was backed by InfraCredit, an AAA-rated infrastructure credit guarantee firm, and is expected to generate over 500 direct and 2,000 indirect jobs, supporting Nigeria’s sustainable economic growth.

Commenting on the successful issuance, Ikechukwu Omeruah, Managing Director, FCMB Capital Markets Limited, said the investment banking group “remains committed to financing projects that drive clean energy adoption and long-term economic impact.”

Continuing, he appreciated “the trust placed in us by GLNG and the invaluable role played by InfraCredit and investors in enabling the successful conclusion of this transaction.”

As gas adoption accelerates in Nigeria, a 2022 Clarke Energy report estimates that manufacturers could save up to 30% by switching to gas from the grid and as much as 80% compared to diesel.

FCMB Capital Markets, a part of FCMB Group, has been instrumental in raising over ₦3tr in debt and equity capital for leading corporate organizations in Nigeria over the past five years, reinforcing its position as a key player in the country’s capital markets.