Neveah Redeems ₦23.33bn Commercial Papers Across 5 Commercial Paper Series, Boosts Investor Confidence
■Ibidapo Lawal: redemption reflects strength of our business fundamentals, disciplined financial stewardship, robust cash flow generation capabilities. ■United Capital says timely repayment strengthens access to debt capital market James Emejo
Neveah Limited has successfully redeemed ₦23.33 billion in commercial papers across five series, bolstering investor confidence. Managing Director Ibidapo Lawal attributed the achievement to strong business fundamentals, disciplined financial management, and robust cash flow generation. The redemption covered Series 1 to 5 of the company's ₦30 billion Commercial Paper Programme, with each series having varying amounts raised.
Neveah's repayment record in the Nigerian debt capital market has been reaffirmed, potentially enhancing its ability to attract further funding. United Capital Investment Banking, the lead arranger of the issuances, emphasized the significance of issuers honoring their repayment commitments, which is crucial for maintaining investor confidence and sustaining access to the debt market.
Neveah Limited, a Nigerian commodities and manufacturing firm, stated it will continue pursuing growth opportunities while maintaining the highest standards of corporate governance.
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