Eat N' Go Nigeria Limited

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Eat & Go Finance SPV Plc’s Series 2 Senior Unsecured Bonds (2021-12)
  • Eat N' Go Nigeria Limited
  • Year : Dec 2021
3 Tokens
USD 300.00

ENG, the Issuer and the Bond Trustees have executed a deed of covenant, pursuant to which ENG, in its capacity as the Guarantor, absolutely, irrevocably, and unconditionally guarantees the punctual and full payment of all debt and obligations owed by the Issuer under the Programme. According to the Deed of Covenant, the Sponsor undertakes that if the Issuer does not pay any of the obligations, it will immediately perform the payment obligations of the Issuer as if it were the primary obligor.

Additional Information

The Series 2 Bonds are direct, general, irrevocable, unconditional, senior, and unsecured obligations of the Issuer in favour of the Bond Trustees on behalf of Bondholders, ranking pari passu with all other senior and unsecured obligations of the Issuer. The Series 2 Bonds will bear a fixed interest rate to be determined post book-building. Interest will accrue on the Bonds from the issue date and will be payable semi-annually in arrears. The Stable Outlook reflects GCR’s opinion that ENG will continue to generate robust earnings and cash flow, which should see credit protection metrics and liquidity profile improve in the coming years.

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