InfraCredit completes $28.93m preference share redemption to AFC
InfraCredit has fully redeemed its 7.25% Redeemable Cumulative USD Preference Shares held by Africa Finance Corporation (AFC). The redemption was carried out in line with the agreed terms, marking a significant change in InfraCredit’s capital structure. AFC remains a shareholder through its ordinary shares, while the transaction is expected to boost InfraCredit’s financial flexibility. The company continues to play a key role in supporting infrastructure finance in Nigeria.
TLDR
- The full redemption of the preference shares was executed on 25 November 2025, as per the Share Subscription Agreement dated 4 July 2018.
- The preference shares were originally due to mature on 30 November 2025.
- InfraCredit redeemed 9,952,067,699 units, paying about $28.93m, which included $1.65m in accrued and unpaid dividends up to the redemption date.
- All rights and privileges attached to the redeemed shares ceased from 25 November 2025.
- AFC remains a shareholder in InfraCredit with 4.36 billion ordinary shares, representing 11.45% of the company’s issued share capital.
