Economy
Dimension Data Raises N4.05bn for Local Broadband Infrastructure
By Adedapo Adesanya
Dimension Data Limited, a Nigerian technology infrastructure provider, has raised N4.05 billion in its Series 1 bond, the first tranche of a wider N20 billion bond programme aimed at expanding its fibre-optic network across Nigeria.
Pathway Advisors Limited, a returning investor, acted as lead issuing house and bookrunner on the deal. The transaction closed after clearance from the Securities and Exchange Commission (SEC).
More issuances are expected as the project continues.
The bond proceeds will fund fibre network expansion, capacity upgrades and service quality improvements, the company said.
It comes as a technology boom continues across the country, with infrastructure needs helping to drive investment and local businesses and reduce dependence on foreign firms.
Recently, the Central Bank of Nigeria (CBN) mandated financial institutions to rely more on Nigerian data centres and local fibre providers rather than offshore cloud infrastructure, adding to demand for the kind of capacity Dimension Data is building.
Incorporated in 2003, Dimension Data runs a data centre with 47-rack capacity and serves about 8,000 customers in 47 countries. Its clientele includes 70 per cent of the Fortune 100 and sports organisations like the Amaury Sport Organisation (Tour de France).
In June, the firm opened subscriptions for the Series 1 Corporate Bond issuance of up to N5 billion under a N20 billion bond programme, with proceeds earmarked for expanding Nigeria’s digital infrastructure.
The offer, led by Pathway Advisors Limited as the Lead Issuing House and Bookrunner, was executed through a book-building process and closed on June 29, 2026.
According to transaction details, the three-year bond is being offered at a book-build price range of 18.50 per cent to 20.00 per cent per annum, with coupon payments to be made semi-annually. The final coupon rate will be determined at the conclusion of the book-building exercise. The minimum subscription has been set at N10 million.
Dimension Data SPV Funding Plc said the funds raised from the issuance would be deployed towards strategic investments in fibre network expansion, capacity enhancement and service quality improvements.
