Neveah Limited has announced the quotation of its Series three and Series four Commercial Paper Issuances on the FMDQ Exchange.
According to a statement from the company, both Series three and four CP issuances were well received and subscribed to by a wide universe of investors including asset managers and High Net worth Individuals (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.
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,” Lawal said.
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 Transaction. The successful completion of Neveah Limited Series three and four 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,” Adenrele said.