VFD Raises N27.2bn Via Commercial Paper

VFD Group Plc has raised N27.2 billion through its Series 1 Commercial Paper (CP) issuance under its N50 billion Commercial Paper Programme, following investor demand that led to a 100 per cent oversubscription of the initial offer.

The issuance, which was originally launched with a target of N15 billion, saw a demand amounting to about N30 billion, prompting the Group to upsize the offer to N27.2 billion, underscoring growing investor confidence in the company’s credit profile and long-term strategic outlook.

The Series 1 CP was issued across two tenors of 270 days and 364 days, drawing interest from asset managers, insurance companies and other qualified investors. Proceeds from the issuance will be deployed towards short-term working capital requirements and general corporate purposes, in line with the Group’s disciplined liquidity and capital management strategy.

Commenting on the transaction, the Executive Director, Finance, VFD Group Plc, Folajimi Adeleye, said the outcome reflects the organisation’s operational resilience and effective approach to funding diversification.

According to him, the strong investor response “highlights the resilience of our credit profile and the market’s confidence in our strategic direction,” adding that the Group remains focused on prudent capital management while positioning for sustainable growth across its diversified investment portfolio.