Neveah Limited, a commodity trading company dealing in the export of solid minerals and agricultural products, has announced the completion of its Series 5 Commercial Paper Issuance.
The issuance was subscribed to by investors, including asset managers and trustees. In addition, the issuance received the approval of FMDQ Securities Exchange Limited.
According to Neveah Limited, in a statement, the successful completion of the Series 5 Commercial Paper Issuance affirms Neveah’s strategic objective to evolve into a leading dealer and exporter of world-class quality solid minerals and agro-commodities to its clients while ensuring a transparent business approach. The successful debt financing rounds came on the heels of the ratings of A1 (short-term) and BBB (long-term), with a positive outlook retained from DataPro Ratings.
What Neveah Ltd is saying:
The Chief Executive Officer, Mr Ibidapo Lawal, said, “our goal is to become the apex export firm for solid minerals and agro products in Nigeria. This issuance will help meet our working capital needs and further enhance our capacity to achieve our goals. We are grateful to all the parties who made this a success.
The Managing Director, Investment Banking at United Capital Plc, Dr Gbadebo Adenrele stated that “United Capital Plc is pleased to act as Lead Arranger to Neveah on its successful capital raising rounds, which support the Company’s strategic growth objectives and will continue to leverage on its deep knowledge of the capital markets to provide the right support for SMEs and mid-market businesses seeking to access funding.”
Culled from Nairametrics.