Dimension Data SPV Funding Plc has opened subscriptions for its Series 1 Corporate Bond issuance of up to N5 billion under its N20 billion Bond Programme, as the company seeks to raise long-term capital to expand fibre network infrastructure and strengthen service delivery across Nigeria’s growing digital economy.
The offer, which is being managed by Pathway Advisors Limited as Lead Issuing House and Bookrunner, opened through a book-building process and is scheduled to close on June 29, 2026.
According to details of the transaction, the three-year bond is being offered at a book-build price range of 18.50 per cent to 20.00 per cent per annum, with coupon payments to be made on a semi-annual basis. The final coupon rate will be determined after completion of the book-building exercise.
The company stated that proceeds from the issuance would be channelled towards strategic investments in fibre network expansion, capacity enhancement and service quality improvement aimed at supporting Nigeria’s rapidly expanding fintech, enterprise connectivity and digital services ecosystem.
The investment, it noted, is expected to strengthen the critical infrastructure required to support increasing demand for digital services while positioning the company to take advantage of emerging opportunities within the country’s technology sector.
“The proceeds from the bond issuance will be deployed towards strategic investments in fibre network expansion, capacity enhancement and service quality improvement,” the company said.
It added that the investments would “strengthen the infrastructure underpinning Nigeria’s rapidly growing fintech ecosystem, enterprise connectivity requirements, and broader digital economy.”
The company further stated that the offer provides investors with an opportunity to gain exposure to a critical infrastructure segment with strong long-term growth prospects driven by increasing digital adoption across sectors of the economy.
Dimension Data SPV Funding Plc and its sponsor, Dimension Data Limited, received investment-grade ratings from local rating agencies. Agusto & Co assigned a BBB+ rating to both the sponsor and the bond, while DataPro Limited rated the sponsor BBB+ and the bond A-.
The minimum subscription amount for the offer has been set at N10 million. Dimension Data Limited, the sponsor of the bond programme, is a provider of Information and Communications Technology (ICT) solutions in Nigeria with operations spanning connectivity services, systems integration, data centre and cloud solutions.
