Firm Repays N10bn Commercial Paper, Reinforces Market Confidence

Legend Internet Plc has fully repay its series 1 Commercial Paper under its N10 billion multi-layered issuance programme, marking a key milestone in the company’s engagement with Nigeria’s debt capital market.

The repayment, completed on schedule and in full, underscores the company’s financial discipline and its continued commitment to maintaining strong investor relations in a tightening funding environment.

The Series 1 issuance had earlier attracted significant demand, recording a 119.7 per cent oversubscription at launch, reflecting strong investor appetite and confidence in the company’s credit profile, operational performance, and long-term expansion strategy.

Speaking on the repayment, the chief executive officer of Legend Internet, Aisha Abdulaziz, said the outcome reinforces the company’s credibility and operational strength.

“The successful repayment of our Series 1 Commercial Paper demonstrates Legend Internet’s unwavering commitment to meeting its financial obligations and maintaining the trust of the investment community. This milestone further reinforces the strength of our business model, operational discipline, and long-term vision for building resilient digital infrastructure across Nigeria,” she said.

She added that investor confidence has remained central to the company’s funding strategy.

“We remain deeply appreciative of the confidence shown by our investors, advisers, issuing houses, and market partners during the issuance and throughout the tenor of the programme. Their support continues to position Legend Internet for sustainable growth and expansion,” Abdulaziz added.

The Commercial Paper programme forms part of Legend Internet’s broader capital strategy aimed at supporting broadband infrastructure expansion, strengthening working capital efficiency, and accelerating investment in Nigeria’s digital connectivity ecosystem.

Market analysts noted that the successful repayment further strengthens the company’s standing within the Nigerian debt capital market, particularly at a time when investor scrutiny of corporate credit quality remains elevated.

Legend Internet operates as a digital infrastructure and broadband services provider, with a focus on fiber connectivity, enterprise solutions, and next-generation digital services designed to expand access and support economic inclusion across Nigeria.