Legend Internet PLC has completed the full repayment of its Series 1 Commercial Paper issued under its N10 billion multi-layered issuance programme, reinforcing investor confidence in the company’s financial position and strengthening its profile within Nigeria’s debt capital market.
The repayment, executed fully and on schedule, marks a major milestone for the broadband and digital infrastructure company at a time when corporate issuers are facing tighter liquidity conditions, rising borrowing costs, and heightened investor scrutiny across the financial market.
The Series 1 Commercial Paper had earlier attracted strong investor demand at launch, recording a 119.7 percent oversubscription rate, a development that reflected market confidence in the company’s growth prospects, operational performance, and long-term expansion strategy within Nigeria’s digital infrastructure sector.
The oversubscription also highlighted increasing investor appetite for corporate instruments linked to technology-enabled infrastructure businesses positioned to benefit from Nigeria’s growing demand for broadband connectivity and digital services.
Speaking on the successful repayment, Aisha Abdulaziz, the chief executive officer of Legend Internet PLC said the development reinforces the company’s commitment to maintaining credibility within the investment community while sustaining operational growth.
“The successful repayment of our Series 1 Commercial Paper demonstrates Legend Internet’s unwavering commitment to meeting its financial obligations and maintaining the trust of the investment community,” Abdulaziz stated.
“This milestone further reinforces the strength of our business model, operational discipline, and long-term vision for building resilient digital infrastructure across Nigeria,” she added.
The repayment comes as companies operating within Nigeria’s telecommunications and digital infrastructure ecosystem continue to attract growing investor attention amid rising demand for internet connectivity, enterprise technology services, cloud infrastructure, and digital inclusion initiatives.
Industry experts note that broadband penetration and digital infrastructure expansion are increasingly being viewed as critical drivers of economic productivity, financial inclusion, and technology-led growth across Africa’s largest economy.
Abdulaziz further emphasised that investor confidence remains central to the company’s long-term capital raising strategy and expansion ambitions.
“We remain deeply appreciative of the confidence shown by our investors, advisers, issuing houses, and market partners during the issuance and throughout the tenor of the programme,” she said.
“Their support continues to position Legend Internet for sustainable growth and expansion,” Abdulaziz added.
According to the company, the Commercial Paper programme forms part of a funding strategy designed to support broadband infrastructure rollout, improve working capital efficiency, and accelerate investment across Nigeria’s digital connectivity landscape.
The company’s expansion strategy aligns with growing efforts within both the private and public sectors to deepen broadband access, improve internet penetration, and strengthen digital infrastructure capable of supporting Nigeria’s rapidly expanding digital economy.
Analysts say access to diversified funding sources has become increasingly important for infrastructure and technology companies seeking to scale operations amid inflationary pressures, foreign exchange volatility, and elevated financing costs.
The successful repayment is also expected to strengthen Legend Internet’s standing among institutional investors and debt market participants, particularly as investors become more selective in allocating capital to corporate issuers.
In recent years, Nigeria’s debt capital market has experienced rising activity from companies seeking alternatives to traditional bank financing through commercial papers, bonds, and other structured instruments.
However, market participants note that investor confidence increasingly depends on issuers’ ability to demonstrate strong governance standards, operational resilience, and timely repayment records.
Legend Internet operates as a broadband and digital infrastructure provider with operations focused on fibre connectivity, enterprise internet solutions, and next-generation digital services aimed at improving access to reliable connectivity across Nigeria.
The company’s growth strategy is positioned around rising digital adoption among businesses, households, financial institutions, and technology-driven enterprises seeking faster and more reliable connectivity services.
The development also reinforces broader market confidence in technology-enabled infrastructure businesses that are increasingly becoming central to Nigeria’s long-term economic transformation and digital inclusion agenda.
