Agusto & Co. affirms “Aaa” rating and the stable outlook assigned to Mixta Real Estate Plc’s ₦4.5 Billion 17% Five-Year Fixed Rate Senior Guaranteed Bond Due 2022.
This rating expires 30 September 2020.
The rating assigned to Mixta Real Estate Plc’s ₦4.5 Billion 17% Five-Year Fixed Rate Senior Guaranteed Bond Due 2022 (“Series 1”, “the Bond” or “the Issue”) mirrors the “AA-” and “A1” ratings assigned to the GuarantCo (“Guarantor”) by Fitch Ratings and Moody’s Investors Service respectively. These ratings are equivalent of “Aaa” on Nigeria’s rating scale, reflecting the Guarantor’s strong credit quality
The Series 1 Bond was issued on 17 January 2017 at a coupon rate of 17% payable semi-annually in arrears over the five-year tenor of the Bond. The Bond principal enjoyed a two-year moratorium, which lapsed in January 2019. Subsequently, the Issue will be redeemed bi-annually over the remaining three years until final maturity in January 2022.
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