Maritime company C&I Leasing completes issuance of second tranche for its bond programme

NIGERIA – C&I Leasing, a Nigerian public limited maritime company, has completed the issuance of the second tranche of its N20 billion (US$48.45m) bond programme which it started in 2017. The company, which is Nigeria’s only listed leasing company also said it is optimistic that a new business model which it adopted, would help in driving revenue growth and further improve the profitability of its business from 2021 and beyond. According to a statement, at 100 per cent subscription rate, the long-dated instrument was a N10 billion bond (US$24.22m), issued…

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Investment firm Actis sells its stake in C&I Leasing to Peace Mass Transit

NIGERIA – Global emerging markets private equity investment firm, Actis LLP (Actis), has successfully exited its stake in C&I Leasing Plc (C&I Leasing), after completing a trade sale to Peace Mass Transit Limited (Peace Mass Transit), a leading transport company in Nigeria. Upon conversion of the loan stock into equity, Peace Mass Transit would become the single largest shareholder in C & I Leasing Plc. Speaking on the development, The Chairman and Managing Director/Chief Executive Officer, Peace Mass Transit Limited, Dr. Sam Maduka Onyishi said the decision to invest in…

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