By Nkiruka Nnorom

Pathway Advisors Limited has announced the successful completion of Veritasi Homes & Properties Plc N12 billion Commercial Paper (CP) issuance with over 100 percent subscription level.

The Series 2 offer, issued under Veritasi Homes’ newly registered N20 billion CP Programme, raised N16.76 billion, significantly above its initial N12.00 billion target on the back of strong institutional demand. This represents a 39.7 percent oversubscription level.

The issuance, according to Pathway Advisors, builds on the company’s track record in the Nigerian debt capital market and follows the recently concluded N10 billion 3-year 20 percent Series 1 Fixed Rate Bond Issuance. This has further reinforced investor confidence in Veritasi Homes’ strong credit profile, the company said in a statement.

The 364-day tenor instrument attracted robust participation from a diverse pool of institutional investors, underscoring sustained confidence in the company’s financial strength, operating model, and governance standards.

Commenting on the deal, Mr. Adekunle Alade, Founder/CEO of Pathway Advisors Limited, noted that the outcome further validates investor appetite for well-structured transactions in the Nigerian capital market.

“The strong oversubscription speaks to the market’s confidence in Veritasi Homes’ performance, governance, and repayment track record. We are pleased to continue supporting issuers with strong fundamentals in accessing efficient funding,’’ Alade said.

He further highlighted that Veritasi Homes’ consistent market activities since 2022, including successful issuances and full redemption of matured obligations, has continued to strengthen its reputation among institutional investors.

“Pathway Advisors Limited remains committed to maintaining its leadership position within Nigeria’s capital markets through the origination and execution of transformative, value-driven, and commercially viable transactions by deploying innovative financial solutions and facilitating strategic capital formation across critical sectors.

“We are committed to supporting credible corporates in accessing efficient short-term and long-term financing solutions within the Nigerian capital market,” he added.

Mr. Nola Adetola, Managing Director/CEO, Veritasi Homes & Properties Plc, described the outcome as a strong endorsement of the company’s fundamentals, saying: “This result reflects the resilience of our business model, our growing market reputation, and the continued trust of the investment community. We are grateful to all institutional investors for their confidence in Veritasi Homes.”

He added that the proceeds from the issuance will be deployed to support the company’s working capital requirements, enhance liquidity, and complete the ongoing development activities across its real estate portfolio.

Adetola also commended Pathway Advisors Limited for its advisory and arranging role in the successful execution of the transaction.