Agusto & Co Withdraws Geregu Power Rating After US$29 Million Bond Default

Nigeria · FINANCE Key Facts —The default: Geregu Power Plc missed its eighth semi-annual coupon and fourth scheduled principal repayment on its N40.09 billion Series 1 Senior Unsecured Bond in early August 2026. —The instrument: The bond was issued on 28 July 2022 with a 14.50 percent fixed coupon and a seven-year tenor maturing on…