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Ardova PLC Bonds, 13.65% 12nov2031, NGN (1, B) (13.65% ADV NOV 2031, NGADV20311B5)

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Domestic bonds, Senior Unsecured

Status
Outstanding
Amount
8,965,647,058.83 NGN
Placement
***
Redemption (put/call option)
*** (-)
ACI
Country of risk
Nigeria
Current coupon
***%
Price
Yield / Duration
  • Placement amount
    13,856,000,000 NGN
  • Outstanding amount
    13,856,000,000 NGN
  • USD equivalent
    6,660,999.2641347 USD
  • Face value
    1,000 NGN
  • ISIN
    NGADV20311B5
  • CFI
    DBFUFR
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Issue information

Profile
Ardova Plc is a Nigerian leading indigenous and integrated energy company involved in the distribution of petroleum products. With an extensive network of over 450 retail outlets in Nigeria and significant storage facilities in Apapa, Lagos ...
Ardova Plc is a Nigerian leading indigenous and integrated energy company involved in the distribution of petroleum products. With an extensive network of over 450 retail outlets in Nigeria and significant storage facilities in Apapa, Lagos and Onne, Rivers State, we procure and distribute petrol (PMS), diesel (AGO), kerosene (DPK) and liquefied petroleum gas (LPG). Our services also involve the manufacturing and distribution of a wide range of quality lubricants from our oil blending plant in Apapa, Lagos. These lubricants include: Super V, Visco 2000 and Diesel Motor Oil. We are also the sole authorised distributor of Shell branded Helix Engine Oils in Nigeria.
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  • Issuer
    Go to the issuer page
    Ardova PLC
  • Full borrower / issuer name
    Ardova PLC
  • Sector
    Corporate
  • Industry
    Oil and Gas Extraction and Refining
Volume
  • Placement amount
    13,856,000,000 NGN
  • Outstanding amount
    13,856,000,000 NGN
  • Outstanding face value amount
    8,965,647,059 NGN
  • USD equivalent
    6,660,999 USD
Face value
  • Face value
    1,000 NGN
  • Outstanding face value
    *** NGN
  • Increment
    *** NGN
Listing
  • Listing

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Cash flow parameters

  • Reference rate
    ***
  • Coupon Rate
    ***
  • Day count convention
    ***
  • Interest Accrual Date
    ***
  • Coupon frequency
    *** time(s) per year
  • Payment currency
    ***
  • Maturity date
    ***

Cash flow

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Early redemption terms

***

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Placement

  • Placement method
    Open subscription
  • Placement type
    Public
  • Placement format
    Book building
  • Order book
    *** - ***
  • Placement
    ***
  • Initial issue price (yield)
    (***%)
  • Geographic breakdown
    ***
  • Investor breakdown
    ***
  • Use of proceeds
    Working Capital
    Capital Expenditures
  • Use of proceeds description
    The estimated net issue proceeds of the Series 1 Bond (Tranches A & B) - being NGN 24,743,740,187.50 following the deduction of the offer costs of NGN 556,259,812.50 representing 2.199% of the gross issue proceeds - will be utilized for the following purposes:
    1. Retail Expansion Projects;
    2. Upgrade of existing infrastructures;
    3. Working capital requirements;
    4. Provision for debt service reserve account funding;
Participants
  • Bookrunner
    ***, ***

Conversion and exchange

  • Conversion terms
    ***

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Identifiers

  • State registration number
    13.65% ADV NOV 2031
  • ISIN
    NGADV20311B5
  • Cbonds ID
    1224267
  • CUSIP
    ***
  • CUSIP 144A
    ***
  • CFI
    DBFUFR
  • Type of security by CBR
    ***

Bond classification

  • Senior Unsecured
  • Registered
  • Coupon bonds
  • Amortization
  • Callable
  • CDO
  • Convertible
  • Dual currency bonds
  • Variable rate
  • For qualified investors (CIS region)
  • Foreign bonds
  • Green bonds
  • Guaranteed
  • Inflation-linked principal
  • Supranational bond issues
  • Inflation-linked coupon
  • Mortgage bonds
  • Non-complex financial instruments (MiFID)
  • Perpetual
  • Payment-in-kind
  • Non-Marketable Securities
  • Redemption Linked
  • Restructuring
  • Retail bonds
  • Covered
  • Securitization
  • Structured product
  • Commercial Bonds
  • Subordinated
  • Sukuk
  • Trace-eligible
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Restructuring

***

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