Geregu Power confirms payment of 8th coupon on N40.08 billion bond
Geregu Power Plc has confirmed the payment of the eighth coupon and part of the principal repayment due under its N40.08 billion Series 1 Fixed Rate Bond, days after concerns emerged over a default on the instrument. The post Geregu Power confirms payment of 8th coupon on N40.08 billion bond appeared first on Nairametrics .
Geregu Power Plc has confirmed the payment of the eighth coupon and a portion of principal repayment due on its N40.08 billion Series 1 Fixed Rate Bond, following initial default concerns. The payment was disclosed on August 20, 2026, by the company's secretary through StructureHQ Limited's corporate filing with the Nigerian Exchange Limited.
Geregu Power has fully remitted the funds to bondholders' designated trustees. The company reaffirmed its dedication to shareholder value and corporate governance, and emphasized its commitment to addressing legacy issues that occurred prior to the current board's tenure. The default, disclosed earlier, had caused capital market concerns and led Agusto & Co to withdraw an "A-" credit rating from the company and its bond due to the default and insufficient information.
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