Vehicle Financing
DLM designed, setup and manages an Asset Backed Securitisation program designed to fund this sector of the Nigerian economy. This financing vehicle has been specifically designed to finance the acquisition of motorbikes and other types of vehicles used by individual MSME businesses to provide transportation services to ordinary Nigerians.
The funding program is managed by Citihoms Finance Company Limited and the proceeds of the Note issuances are on-lent to our partners - MAX Last Mile Delivery Services Limited.
DLM invest in Primero
Primero Transport Services Limited has signed the first series of the N100 billion Bus Rapid Transit Systems (BRTS) securitization transaction.
The first series comprised of N16.5 billion, a 7 year bonds paying semi-annual coupons at a fixed rate of 17 per cent per annum. The bonds are solely backed by BRT receivables; they are amortizing and have an investment grade rating from all three rating agencies. The funds raised have aided in putting more buses on the road, thereby reducing wait times and increasing productivity in the lives of the users, as should be the objective of any transport infrastructure.