Lagos, Nigeria – CardinalStone Partners Limited (“CardinalStone”) has been awarded Debt Deal of the Year at the 20th edition of the African Banker Awards 2026 in recognition of its role as Lead Financial Adviser and Lead Issuing House on the landmark ₦501.021 billion Power Sector Bond Issuance sponsored by Nigerian Bulk Electricity Trading Plc (NBET).
The award recognises the inaugural tranche under the ₦4 trillion Power Sector Multi-Instrument Issuance Programme, executed as part of the Presidential Power Sector Debt Reduction Programme (PPSDRP). The transaction represents one of the most significant domestic debt capital markets issuances in Nigeria’s power sector and a major milestone in efforts to restore financial sustainability across the electricity value chain.
The 7-year bond issuance, guaranteed by the full faith and credit of the Federal Government of Nigeria, was fully subscribed by institutional and individual investors, underscoring strong market confidence in the structure, credit quality, and long-term impact of the transaction.
The African Banker Awards, held annually on the sidelines of the African Development Bank Annual Meetings, celebrates excellence and best practices in African banking and finance. The Debt Deal of the Year category recognises transactions that demonstrate innovation, market significance, execution excellence, and measurable economic impact.
