The Federal Government has begun the process of repaying the N4tn debt owed to Power Generation Companies with the launch of a N590bn first-tranche bond issuance.
The initial tranche, part of a wider N4tn NBET Finance Company Plc Bond Programme, is guaranteed by the Federal Government. It comprises N300bn in cash bonds to be issued to the market and N290bn in non-cash bonds to be directly allotted to GenCos on identical terms.
The PUNCH learnt…
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