Vanguard News·3 min read·hard
Geregu Power bond default rattles investors as earnings plunge 88%
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Geregu Power Plc has defaulted on a major bond payment following a significant decline in revenue and profitability during the first half of 2026. The company attributes these financial struggles to a costly turbine maintenance program intended to improve long-term infrastructure.
Investors in Geregu Power Plc are facing renewed concerns over the company’s financial position after it defaulted on its N40.09 billion Series 1 Senior Unsecured Bond, missing both its eighth semi-annual coupon payment and scheduled fourth principal repayment.
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