Neveah Limited (“the Company”), a leading commodities export company, is pleased
to announce the quotation of its Series 3 and Series 4 Commercial Paper Issuances on
the FMDQ Exchange.
Both Series 3 and 4 CP issuances were well received and subscribed to by a wide universe of investors including asset managers and HNIs.
The issuance of these Series is in line with the Company’s strategic objective to evolve as
a leading dealer and exporter of world-class quality agro-commodities and minerals 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, coupled with the strategic partnership and
guidance of United Capital Plc.
According to the Chief Executive Officer, Mr Ibidapo Lawal “the commercial paper
issuances will further place the company in a strategic position to meet its contractual
obligations with off-takers while building its strength as a leader in the international
commodities export market.
It is a pleasure to have United Capital as the Sole Arranger on the Commercial Paper Issuance Programme and Ava Trustees as Trustee to the transaction”. Neveah is delighted at the opportunity to access alternative funding to meet its short-term working capital requirements.
The Managing Director/CEO, Investment Banking at United Capital Plc, Dr Gbadebo
Adenrele stated that “United Capital is pleased to be the Sole Arranger on the
“The successful completion of Neveah Limited Series 3 & 4 CP further confirms
our position in supporting SMEs to access funding from the Nigeria Capital Markets. The
strong investor appetite witnessed affirms Neveah’s strong management execution
capacity and corporate governance position.
“United Capital Plc, leveraging on its deep knowledge of the capital markets, is well positioned to provide the right support for SMEs and mid-market businesses seeking to access funding.”