Neveah redeems N2.923bn Series 7, 8, 11 Commercial Paper Issuance

Neveah Limited, a commodity trading company, has announced the redemption of its obligation of the N2.923 billion Series 7, 8 and 11 commercial paper notes issued in February, May and July of 2023 respectively. Expressing optimism about Neveah’s recent achievement Ibidapo Lawal, Chief Executive Officer of Neveah, said: “We are steadfast in our pursuit to […]

Neveah Limited, a commodity trading company, has announced the redemption of its obligation of the N2.923 billion Series 7, 8 and 11 commercial paper notes issued in February, May and July of 2023 respectively.

Expressing optimism about Neveah’s recent achievement Ibidapo Lawal, Chief Executive Officer of Neveah, said: “We are steadfast in our pursuit to become the foremost indigenous export company for solid minerals and agricultural products in Nigeria.

“Neveah remains dedicated to fulfilling its obligations in a timely manner, showcasing our commitment to financial prudence and sustainable growth. Our gratitude extends to all the parties involved in making this endeavour a success.”

Dr. Gbadebo Adenrele, Managing Director, Investment Banking at United Capital Plc, said: “United Capital Plc is thrilled to have assumed the responsibility of Lead Arranger while playing a crucial role in supporting Neveah Limited all through its successful capital-raising and the settlement of N2.923 billion, Series 7, 8 and 11 Commercial Paper Issuance under its N20 billion Commercial Paper Issuance Program.

“Neveah has continuously shown its commitment to utilising funds from the capital markets to improve its revenue and profit. They have consistently demonstrated their competency in the export industry, and United Capital Plc will continue to use its in-depth knowledge of the capital markets to help Neveah and other SMEs and mid-market enterprises seeking to access funding.”