The Nigeria Infrastructure Debt Fund, managed by Chapel Hill Denham Management Limited, has launched a capital raise of up to ₦45 billion under its ₦200 billion issuance programme, the fund said in a statement.
The Series 12 Offer opened on 23 September 2026 and comprises 396.33 million units priced at ₦113.54 each, the statement signed by Aramide Oyeneyin said. The offer price represents a 23.13% discount to the fund’s closing market price of ₦147.70 per unit on the Nigerian Exchange on 22 September 2026.
The fund described the Series 12 transaction as its twelfth capital raise since inception in 2017 and its fourth since listing on the NGX. Chapel Hill Denham said proceeds from the offer will be deployed towards financing additional infrastructure assets while maintaining the fund’s objective of generating stable income and regular distributions for investors.
In the same release, the fund highlighted elements of its track record. NIDF said it has delivered 37 distributions since inception, aggregating to more than ₦100 billion, and that it has financed infrastructure projects with an aggregate value of approximately $625 million over the past decade.
The fund reported an unaudited pre-tax profit of ₦10.63 billion for the half year 2026, down from ₦11.79 billion in the corresponding period of 2025. NIDF also declared a second-quarter 2026 distribution of ₦4.40 per unit.
According to the fund manager, infrastructure loans financed by NIDF are typically priced on a floating-rate basis between 300 and 500 basis points above the 10-year Federal Government of Nigeria bond benchmark.
The Series 12 offer is part of NIDF’s long-running strategy to mobilise local currency financing for infrastructure projects. The fund described the offer as an opportunity for investors to take a discounted entry point into its portfolio while supporting infrastructure development.
The details above are from the fund’s statement, signed by Aramide Oyeneyin on behalf of Chapel Hill Denham Management Limited. More information is available in the fund manager’s release on Nairametrics.
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