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Tuesday, September 27, 2022

Stanbic IBTC offers investors high yields, to invest in transport, renewable energy, others

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Stanbic IBTC Asset Management Limited has announced that the company will invest N15 billion into infrastructure project in healthcare, transport, logistics, renewable energy, and power, as the lender looks beyond core financial business.

The capital is being raised through its Series II bond offer, which is part of the N100 billion Infrastructure Fund it listed in September 2021.

According to the firm, Series I was successfully closed, with Pension Fund Administrators, Asset Management Companies, Insurance Companies, and High Net-worth Individuals contributing to the fund invested in gas distribution value chain infrastructure and healthcare infrastructure.

In a statement, it was gathered that the Seriea II will close on June 10, with opportunities for investors to partake in the next two days. Stanbic IBTC stated that investment will receive competitive returns.

“The Fund is designed to bridge the gap between the long-term funding needs of promoters of infrastructure projects and investors with long-term capital. The Fund, which is structured as a closed-ended collective investment scheme, seeks to provide competitive returns above the benchmark Federal Government of Nigeria bond yield of comparable tenor as the outstanding tenor of the Series II from time to time.

“The Fund Manager successfully closed its Series I offer in September 2021 and raised capital from a diverse group of investors, including Pension Fund Administrators, Asset Management Companies, Insurance Companies, and High Net-worth Individuals. The proceeds of the Series I offer were deployed towards gas distribution value chain infrastructure and healthcare infrastructure.” the statement reads.

The Chief Investment Officer, Stanbic IBTC Infrastructure Fund, Dolu Olugbenjo, urged investors to take advantage of the offer to benefit from the yields attached to Series II, while also creating infrastructure simultaneously.

“We encourage institutional investors to continue participating in the Stanbic IBTC Infrastructure Fund issuances as we proceed with the efforts to bridge the existing infrastructure asset gap through careful project selection that delivers positive social and economic multiplier effects.”

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