Sunbeth Global Concepts Limited, a Nigerian agro-commodities sourcing and trading company, has redeemed its N25.1 billion Series 1 Commercial Paper (CP) on schedule, reflecting strong investor demand for its debt instruments.
The company said the Series 1 notes were redeemed on their maturity date of September 4, 2026.
Sunbeth had secured regulatory approval in March to establish a N200 billion Commercial Paper Programme to fund the expansion of its agricultural export operations.
It subsequently issued Series 1, Series 2 and Series 3 notes, attracting total subscriptions of N165.73 billion against an initial target of N100 billion.
The company accepted N150.4 billion across the three series, indicating subscriptions were about 66 percent above the original target.
Olasunkanmi Owoyemi, chief executive officer of Sunbeth Global Concepts, said the timely redemption reflected the company’s financial discipline and investor confidence.
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