Neveah Limited, a commodity trading company has announced the completion of its series 5 commercial paper issuance.
The issuance, which has received the approval of FMDQ Securities Exchange Limited, was well received and subscribed to by a wide range of investors including asset managers and trustees, a stamen said.
The successful completion of the Series 5 Commercial Paper Issuance affirms Neveah’s strategic objective to evolve into a leading dealer and exporter of world-class quality solid minerals and agro-commodities to its clients while ensuring a transparent business approach.
The successful debt financing rounds came on the heels of ratings of A1 (short-term) and BBB (long-term) with a positive outlook retained from DataPro Ratings.
On the issuance, the Chief Executive Officer, Ibidapo Lawal, said: “Our goal is to become the apex export firm for solid minerals and agro products in Nigeria. This issuance will help meet our working capital needs and further enhance our capacity to achieve our goals. We are grateful to all the parties who made this a success.”
The Managing Director/CEO, Investment Banking at United Capital Plc, Dr. Gbadebo Adenrele, said the firm “is pleased to act as a lead arranger to Neveah on its successful capital raising rounds which support the Company’s strategic growth objectives and will continue to leverage its deep knowledge of the capital markets to provide the right support for SMEs and mid-market businesses seeking to access funding.”
