NEVEAH LIMITED RAISES N25.51BN THROUGH SERIES 1-15 COMMERCIAL PAPERS
Detailed Breakdown:
Neveah Limited, a Nigerian commodity trading company, has raised N25.51 billion through a series of 1-15 commercial paper (CP) issuances. These funds will be used to meet the company’s working capital requirements, supporting its operations in solid minerals and agricultural products.
Revenue Growth: Over the past four years, Neveah Limited has achieved an impressive 858% revenue growth. This rapid expansion highlights the company's increasing presence in both domestic and international markets.
CEO's Remarks: Ibidapo Lawal, Neveah’s Chief Executive Officer, emphasized the company’s vision to responsibly trade Nigeria’s indigenous products on a global scale. Lawal acknowledged the crucial role investors in the CP market have played in their success, reaffirming Neveah’s commitment to meeting repayment obligations and maintaining investor trust.
Successful Redemption: The company recently redeemed its N1.9 billion Series 15 CP notes, which were issued in November 2023. This redemption is part of a broader trend of successful issuances, further strengthening Neveah's reputation for financial credibility.
Lead Arranger’s Commentary: Gbadebo Adenrele, Managing Director of Investment Banking at United Capital Plc and lead arranger for the CP programme, praised Neveah for its responsible use of capital. He highlighted Neveah’s commitment to ensuring successful repayments, reinforcing the company’s credibility in the capital markets.
This successful capital raise reinforces Neveah's growing influence in the commodity trading sector, as it continues to expand its operations both locally and internationally.
Detailed Breakdown:
Neveah Limited, a Nigerian commodity trading company, has raised N25.51 billion through a series of 1-15 commercial paper (CP) issuances. These funds will be used to meet the company’s working capital requirements, supporting its operations in solid minerals and agricultural products.
Revenue Growth: Over the past four years, Neveah Limited has achieved an impressive 858% revenue growth. This rapid expansion highlights the company's increasing presence in both domestic and international markets.
CEO's Remarks: Ibidapo Lawal, Neveah’s Chief Executive Officer, emphasized the company’s vision to responsibly trade Nigeria’s indigenous products on a global scale. Lawal acknowledged the crucial role investors in the CP market have played in their success, reaffirming Neveah’s commitment to meeting repayment obligations and maintaining investor trust.
Successful Redemption: The company recently redeemed its N1.9 billion Series 15 CP notes, which were issued in November 2023. This redemption is part of a broader trend of successful issuances, further strengthening Neveah's reputation for financial credibility.
Lead Arranger’s Commentary: Gbadebo Adenrele, Managing Director of Investment Banking at United Capital Plc and lead arranger for the CP programme, praised Neveah for its responsible use of capital. He highlighted Neveah’s commitment to ensuring successful repayments, reinforcing the company’s credibility in the capital markets.
This successful capital raise reinforces Neveah's growing influence in the commodity trading sector, as it continues to expand its operations both locally and internationally.