Pivot Integrated Energy secures N100 billion in oversubscribed maiden Commercial Paper issuance

Pivot Integrated Energy Services Limited successfully issued N100.08 billion worth of Commercial Paper (CP) in its maiden transaction, marking its debut in Nigeria's debt capital market. The Series 1 issuance, part of Pivot's N300 billion Commercial Paper Programme, saw strong demand from institutional and sophisticated investors, surpassing the N100 billion target.

Proceeds from the sale will fund the company's operations in refined petroleum products trading, storage, distribution, and supply across Nigeria and selected African markets. Pathway Advisors Limited, as the Lead Issuing House and Lead Arranger, facilitated the transaction, which was also sponsored, structured, and arranged by the firm.

The strong response from a diverse investor base, including Pension Fund Administrators, insurance companies, commercial banks, asset management firms, investment funds, and corporate treasuries, underscores investor confidence in Pivot's fundamentals and growth potential. This successful debut comes amid a resurgence in Nigeria's commercial paper market, with outstanding CPs reaching N465.34 billion in June 2026, up from N448.88 billion in May 2026.

Nigerian corporates collectively raised N1.61 trillion through commercial papers in 2025, a 40% increase from 2024, despite higher borrowing costs. The recent trend highlights the increasing appeal of CPs as an alternative funding source for businesses seeking working capital without solely relying on traditional bank loans.