SEC Issues Public Notice on Default in Repayment on Visionscape Bond

Proshare - Facebook Proshare - Twitter Proshare - Linked In Proshare - WhatsApp

Friday, March 08, 2019  11:03 AM / SEC Nigeria

The attention of the Commission has been drawn to news media publications regarding the default in repayment on Visionscape Bond and the Commission’s role in the transaction.

The Bond under reference was issued by Municipality Waste Management Contractors Limited, a private company promoted by Visionscape Sanitations Solutions Limited – under a N50Billion Medium Term Note Programme.

Being an issuance by a private company, it was not offered to the public, but to qualified investors by private placement.
The transaction was therefore not subject to the prior review and approval of the Commission and does not fall within its regulatory preview.

In addition, the Bond was not certified as a Green Bond as portrayed by the media.

The Commission wishes to assure the general public that it is committed to its duties of investors protection and ensuring an efficient, fair and transparent capital market.

Proshare Nigeria Pvt. Ltd.

Related News

1.       NSE Statement on the Lagos State Government’s N4.85bn,15.75% Series 1, Tranche B, Environmental Note

2.      Lagos State’s Green Note Default: Understanding The Issues, Implications and Lessons

3.      Lagos State Government Defaults On Green Note Issue; Investors Fret Over Yields

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.
Related News