A N5 billion bond offer is now open for subscription, giving investors a fresh entry point into Nigeria’s fast-expanding digital infrastructure sector at yields of up to 20 per cent per annum.
By Chioma Obinagwam
Nigeria’s digital infrastructure sector is attracting fresh capital, as a N5 billion corporate bond offer opens for subscription this week, targeting fibre network expansion and enterprise connectivity upgrades.
Confiance News has gathered that Dimension Data SPV Funding PLC has launched its Series 1 Corporate Bond issuance of up to N5 billion under a N20 billion Bond Programme, with the offer period running until Monday, June 29, 2026.
The offer, bookrun by Pathway Advisors Limited as Lead Issuing House, will be executed via a Book Build process, with a price range of 18.50 per cent to 20.00 per cent per annum. Coupon payments are structured on a semi-annual basis, with the final rate to be determined at the close of the Book Build.
Documents sighted by Confiance News show the minimum subscription threshold is set at N10 million, with a tenor of three years.
Ratings, Structure
The bond has received investment-grade ratings from two recognised credit agencies. Agusto and Co. assigned a BBB+ rating to both the sponsor and the bond, while DataPro Limited rated the sponsor BBB+ and the bond A-minus.
Proceeds Deployment
According to the offer documents, proceeds will fund strategic investments in fibre network expansion, capacity enhancement, and service quality improvement. Pathway Advisors Limited says the investments will strengthen infrastructure supporting Nigeria’s fintech ecosystem, enterprise connectivity, and broader digital economy.
About the Issuer
Dimension Data Limited, incorporated in 2003, is the sponsor behind the bond vehicle. The company is one of Nigeria’s leading end-to-end ICT solutions providers, offering connectivity services including IP Telephony, SD-WAN, Dedicated Internet Services, and MPLS solutions, as well as systems integration and data centre and cloud solutions.
The company operates a purpose-built data centre with a 47-rack capacity, serving clients in banking, telecommunications, retail, and enterprise sectors. Confiance News understands that more than 70 per cent of its major customers have maintained business relationships with the company for over a decade, underpinning a resilient revenue profile anchored by managed service annuities.
Pathway Advisors Limited, which is registered and regulated by the Securities and Exchange Commission (SEC), Nigeria, structured the transaction. The firm’s mandate spans transaction advisory, capital raising, project finance, and mergers and acquisitions advisory.
Investors seeking further information on the offer may contact Opeyemi Akanbi at opeyemi@pathway.ng or Idris Busari at idris@pathway.ng.
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