Dimension Data SPV Funding Plc has opened subscriptions for its Series 1 Corporate Bond issuance of up to N5 billion under a N20 billion bond programme, with proceeds earmarked for expanding Nigeria’s digital infrastructure.
The offer, led by Pathway Advisors Limited as the Lead Issuing House and Bookrunner, is being executed through a book-building process and will close on June 29, 2026.
According to transaction details, 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 semi-annually. The final coupon rate will be determined at the conclusion of the book-building exercise. The minimum subscription has been set at N10 million.
Dimension Data SPV Funding Plc said the funds raised from the issuance would be deployed towards strategic investments in fibre network expansion, capacity enhancement and service quality improvements.
The company noted that the investments would strengthen the infrastructure supporting Nigeria’s rapidly expanding fintech sector, enterprise connectivity needs and the broader digital economy.
“The proceeds from the bond issuance are intended to support strategic investments in fibre network expansion, capacity enhancement and quality service delivery. This will bolster the critical infrastructure supporting Nigeria’s broader fintech, enterprise connectivity and digital ecosystems,” the company stated.
The bond has been assigned ratings of BBB+ by Agusto & Co and A- by DataPro Limited, while the sponsor, Dimension Data Limited, holds BBB+ ratings from both Agusto & Co and DataPro.
Dimension Data Limited, incorporated in 2003, is a provider of end-to-end Information and Communications Technology (ICT) solutions in Nigeria.
The company provides services including IP telephony, SD-WAN, dedicated internet services and Multiprotocol Label Switching (MPLS) solutions, while also offering managed services, hosting, storage and virtual machine solutions. Its operations span connectivity services, systems integration, data centre management and cloud solutions.
Dimension Data operates a purpose-built data centre with a 47-rack capacity, serving clients across the banking, telecommunications, retail and enterprise sectors.
According to the company, its business model combines recurring revenues from managed services with project-based income from systems integration activities, creating a diversified revenue base and stable cash flows.
The firm also said it has maintained long-standing relationships with a broad portfolio of local and multinational clients, with more than 70 per cent of its major customers retaining business relationships with the company for over a decade.
Commenting on the transaction, Pathway Advisors Limited said the offer presents investors with an opportunity to gain exposure to a critical infrastructure segment positioned for sustained long-term growth as Nigeria accelerates its digital transformation agenda.
Pathway Advisors, a Securities and Exchange Commission-regulated issuing house and financial advisory firm, said it remains committed to facilitating access to capital and supporting sustainable economic growth across key sectors of the Nigerian economy.
