Firm redeems N2.04bn Series 13 CPs issuance

Firm redeems N2.04bn Series 13 CPs issuanc

Seun Adeuyi

Neveah Limited, a commodity trading company essentially dealing in the export of solid minerals and agricultural products, has announced the redemption of its obligation of the N2.04 billion Series 13 commercial paper notes issued in July 2023.

Mr. Ibidapo Lawal, the Chief Executive Officer of Neveah, stated, “Our objective is to be the foremost export company for solid minerals and agricultural products in Nigeria.

“This issuance will assist us in meeting our working capital requirements and further strengthening our capacity to realize our objectives. We extend our appreciation to all the parties involved in making this a success.”

The Managing Director, Investment Banking at United Capital Plc, Dr. Gbadebo Adenrele stated that: “United Capital Plc is excited to have taken on the role of Lead Arranger in supporting Neveah Limited throughout its successful capital-raising and the settlement of N2.04 billion, which covers Series 13 of its N20 billion Commercial Paper Issuance Program.

“This accomplishment reflects the company’s dedication to realizing its strategic growth objectives, and we will persist in leveraging our extensive expertise and skills to facilitate Neveah and other small and medium-sized enterprises (SMEs) in accessing the capital markets for funding their growth and expansion strategies.”