Geregu Power Plc has confirmed the payment of the eighth coupon and part of the principal due under its N40.085 billion Series 1 Fixed Rate Bond, easing concerns over the company’s ability to meet its debt obligations.
The power generation company disclosed the payment in a statement to the Nigerian Exchange Limited (NGX) and the investing public on Thursday, August 20, 2026. According to the disclosure, the eighth coupon payment and the corresponding part principal repayment due under the bond have been paid to the trustees.
The Series 1 Fixed Rate Bond was issued as part of Geregu Power’s Bond Issuance Programme, with the total issue valued at N40.085 billion. The confirmation comes amid heightened attention to Geregu Power’s debt obligations following concerns over the company’s ability to service its bond.
“The Board of Directors reaffirms its commitment to all stakeholders as part of its ongoing dedication to preserving shareholder value and upholding the highest standards of corporate governance.
“The Company will continue to engage constructively with relevant parties to resolve legacy matters pre-dating the current Board and confirms that this process will not impact the Company’s ability to meet its obligations,” The company noted.
The company’s latest payment is significant for holders of the bond because coupon payments represent the interest payable to investors, while principal repayments reduce the outstanding amount owed under the debt instrument.
Geregu Power thanked the bondholders for their continued engagement, as well as the Securities and Exchange Commission, NGX and the Nigerian Electricity Regulatory Commission for their roles during the process.
