FCMB Capital Markets lead N11.85bn GLNG Bond for LNG plant expansion

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FCMB Capital Markets Limited has successfully led the issuance of a N11.85 billion, 10-year Series 2 Senior Guaranteed Fixed Rate Infrastructure Bond by GLNG Funding SPV Plc, marking a major step in financing clean energy infrastructure in Nigeria.

The bond, issued by GLNG Funding SPV Plc and sponsored by Green Liquified Natural Gas (GLNG) as part of its capital-raising plans, 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 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.

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“FCMB Capital Markets remains committed to financing projects that drive clean energy adoption and long-term economic impact,” said Ikechukwu Omeruah, managing director, FCMB Capital Markets Limited. “We appreciate 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 percent by switching to gas from the grid and as much as 80 percent compared to diesel.

FCMB Capital Markets, a part of FCMB Group, has been instrumental in raising over N3 trillion 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.

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ByHope Moses-Ashike

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Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.