SKLD INTEGRATED SERVICES SEEKS N590 MILLION VIA COMMERCIAL PAPER
1. Commercial Paper Issuance:
- Details: SKLD Integrated Services Limited has introduced Series 10 and 11 of its commercial paper issuances to raise up to N590 million.
- Deadline: The issuance, facilitated by Afrinvest Capital Limited, is open until July 24, 2024.
2. Purpose and Strategy:
- Objective: The funds raised will be used to enhance SKLD’s operations and support its growth plans.
- Commentary: Ike Chioke, Group Managing Director of Afrinvest West Africa Limited, highlighted that the issuance is part of SKLD’s strategy to secure short-term debt capital.
3. Company Overview:
- Business Areas: SKLD provides educational and office supplies, branded products, garment manufacturing, and humanitarian aid procurement in Nigeria.
- Partnerships: The company collaborates with international organizations, including UNICEF and UNESCO, for various intervention projects.
- Retail Presence: SKLD operates Skit Shop, the largest retail network for back-to-school shopping in Nigeria, with annual revenues of N2.78 billion in 2022 and N3.86 billion in 2023. The number of retail stores has grown from three in 2020 to seven.
4. Utilization of Funds:
- Purpose: The N590 million raised will finance SKLD’s working capital requirements and support its growth and diversification efforts.
1. Commercial Paper Issuance:
- Details: SKLD Integrated Services Limited has introduced Series 10 and 11 of its commercial paper issuances to raise up to N590 million.
- Deadline: The issuance, facilitated by Afrinvest Capital Limited, is open until July 24, 2024.
2. Purpose and Strategy:
- Objective: The funds raised will be used to enhance SKLD’s operations and support its growth plans.
- Commentary: Ike Chioke, Group Managing Director of Afrinvest West Africa Limited, highlighted that the issuance is part of SKLD’s strategy to secure short-term debt capital.
3. Company Overview:
- Business Areas: SKLD provides educational and office supplies, branded products, garment manufacturing, and humanitarian aid procurement in Nigeria.
- Partnerships: The company collaborates with international organizations, including UNICEF and UNESCO, for various intervention projects.
- Retail Presence: SKLD operates Skit Shop, the largest retail network for back-to-school shopping in Nigeria, with annual revenues of N2.78 billion in 2022 and N3.86 billion in 2023. The number of retail stores has grown from three in 2020 to seven.
4. Utilization of Funds:
- Purpose: The N590 million raised will finance SKLD’s working capital requirements and support its growth and diversification efforts.