CardinalStone has closed a N729 billion fresh power bond intended to clear legacy debt, as reported by BusinessDay on 15 September 2026.
The complete article body was not provided with the submission. Without the source text, specific details such as the issuer, bond structure, tenor, pricing, counterparties, and any comments from officials could not be verified or faithfully rewritten.
In general, power-sector debt instruments in Nigeria are used to refinance or settle obligations that have accumulated across the electricity supply chain. A bond of this size carries implications for the capital markets and for the fiscal position of the power sector. However, the precise mechanics of this transaction should be confirmed against the original report.
This note is therefore limited to the headline facts: CardinalStone closed the N729 billion power bond to clear legacy debt.
