Zeenab Foods Redeems N1.6bn Series 1 Commercial Paper

Zeenab Foods Limited has announced the successful redemption and repayment to all subscribers of its N1.6 billion Series 1 (Tranche A) Commercial Paper issuance under the N20bn Commercial Paper Programme approved by FMDQ Securities Exchange Limited.

The Series 1 Tranche A, Commercial Paper issued on August 1, 2024, through the FMDQ Securities Exchange, matured and was fully redeemed on September 30, 2024.
The issuance is sponsored by Pathway Advisors Limited and was largely subscribed to by institutional investors.

The Company expresses its gratitude to the market for the support and confidence shown in its brand and operations.

Managing director and CEO of Zeenab Foods Limited, Dr. Ayemere O. Victor,commented on the successful CP redemption, stating, “We greatly appreciate the support and confidence of the market in our brand and are pleased to have fully redeemed and repaid all subscribers to our first Commercial Paper issuance.”

He added, “This redemption reflects the company’s credibility, business excellence, and dedication to maintaining trust within Nigeria’s Debt Capital Market.”

RELATED

CBN Survey Shows Interest Rates Now Business Firms’ Biggest Constraint

8 hours ago

Fitch Upgrades Benue State, Affirms Lagos, Kaduna’s Ratings

8 hours ago

Dr. Victor also expressed gratitude to CEO/managing director of Pathway Advisors Limited, Adekunle Alade, the Financial Adviser and Lead Arranger, for the efforts in ensuring the successful issuance, as well as the institutional investors for their support.