Pivot Integrated Energy Services’ ₦100 billion debut commercial paper oversubscribed at ₦100.08 billion
Pivot Integrated Energy Services Limited (“Pivot”), a leading indigenous integrated downstream energy company, has successfully completed its maiden ₦100 billion Series 1 Commercial Paper (“CP”) issuance under its ₦300 billion Commercial Paper Programme. The landmark issuance was oversubscribed at ₦100.08 billion, reflecting strong demand and significant confidence from institutional and…
Pivot Integrated Energy Services Limited, a leading Nigerian energy company, recently successfully completed its first ₦100 billion Series 1 Commercial Paper issuance. The issuance was oversubscribed, receiving ₦100.08 billion in demand from institutional and sophisticated investors. This marks Pivot's debut in Nigeria's debt capital market and highlights the confidence investors have in the company's business model, management team, growth strategy, and credit fundamentals.
The proceeds from the issuance will support Pivot's continued growth and expansion in refined petroleum product trading, storage, distribution, and supply across Nigeria and selected African markets. Pivot's Managing Director, Babajide Babatope, expressed pride in the successful issuance, stating it validates the strength of the company's platform and demonstrates investor confidence.
Pathway Advisors, the transaction sponsor and lead issuing house, credited the strong investor response to Pivot's fundamentals, management team, and investment proposition. Pathway Advisors also emphasized the importance of the institutional investors' participation in building successful capital-market relationships.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
