AIICO purchases 5% stake in InfraCredit

AIICO Insurance Plc has been admitted as the second private domestic institutional investor in InfraCredit following Leadway Assurance Plc’s initial involvement.

The Times revealed that AIICO’s investment equals 5% of the institution’s share capital, according to the press release announcing the move.

This strategic move increased InfraCredit’s paid-in capital base to $175.14 million (N148.55 billion), resulting in an exceptional $875.7 million (N742.77 billion) credit guarantee capacity.

AIICO Insurance’s CEO, Babatunde Fajemirokun, commented on the transaction, noting that the company had previously invested in InfraCredit guaranteed bonds as well as other financing arrangements supported by the organization.

“Over the last two years, AIICO Insurance has invested in InfraCredit guaranteed bonds and participated in novel financing arrangements promoted by the company to bring infrastructure investment to areas that have been significantly underserved,” he stated. READ MORE

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