Dimension Data SPV Funding Plc has launched a significant N5 billion Series 1 Corporate Bond issuance, part of a broader N20 billion Bond Programme, to secure long-term capital for the expansion of its fibre network infrastructure and the enhancement of service delivery across Nigeria’s burgeoning digital economy. This strategic move underscores the critical role of robust telecommunications infrastructure in supporting the nation’s rapidly evolving technological landscape.
The offering, managed by Pathway Advisors Limited as Lead Issuing House and Bookrunner, commenced via a book-building process and is slated to conclude on June 29, 2026. This initiative provides a compelling opportunity for investors seeking exposure to a vital infrastructure segment poised for substantial long-term growth, driven by increasing digital adoption across all economic sectors.
Details of the transaction reveal a three-year bond with a book-build price range of 18.50 per cent to 20.00 per cent per annum, featuring semi-annual coupon payments. The final coupon rate will be determined upon the conclusion of the book-building exercise. The proceeds are earmarked for strategic investments in fibre network expansion, capacity enhancement, and service quality improvements, directly supporting Nigeria’s dynamic fintech, enterprise connectivity, and digital services ecosystem.
According to the company, these investments are designed to bolster the critical infrastructure necessary to meet the escalating demand for digital services. This strategic deployment of capital is expected to position Dimension Data to capitalise on emerging opportunities within Nigeria’s technology sector. The company explicitly stated that the bond proceeds will be channelled towards “strategic investments in fibre network expansion, capacity enhancement and service quality improvement,” further noting that these investments will “strengthen the infrastructure underpinning Nigeria’s rapidly growing fintech ecosystem, enterprise connectivity requirements, and broader digital economy.”
Dimension Data SPV Funding Plc and its sponsor, Dimension Data Limited, have garnered strong credit ratings from local agencies, reflecting their financial stability and operational capacity. Agusto & Co. assigned a BBB+ rating to both the sponsor and the bond, while DataPro Limited rated the sponsor BBB+ and the bond A-. These ratings provide an additional layer of assurance for potential investors.
The minimum subscription amount for this offering has been set at N10 million. Dimension Data Limited, the sponsor of the bond programme, is a recognised provider of Information and Communications Technology (ICT) solutions in Nigeria, with established operations encompassing connectivity services, systems integration, and data centre and cloud solutions. This bond issuance represents a key step in their strategy to enhance their contribution to Nigeria’s digital transformation.
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