Eunisell Redeems N4bn Commercial Paper

Eunisell Limited has announced the successful redemption of its N4 billion Commercial Paper Series II Issuance Programme.

In 2021, Eunisell registered a Commercial Paper Issuance Programme worth N10 billion with FMDQ.

Series I, which saw Eunisell raise N3.5 billion from the capital market, has since been repaid at maturity.

Suffice it to say that the Series I issuance witnessed a very strong investor rally with an oversubscription of 20 per cent, demonstrating investors’ confidence in the company’s business model and its management team.

Similarly, the Series II issuance, which was launched at N4bn in mid-2022, was also oversubscribed by 25 per cent.

Eunisell provides specialty chemical solutions across a wide range of industrial users, viz. food and beverage, can manufacturing, oil and gas, beauty and personal care, hygiene, etc. Eunisell also offers engineering services in the oil & gas sector and is supported by a technical team that brings world class solutions to the markets they serve. 

In his statement, Chika Ikenga, Eunisell’s group managing director, thanked FMDQ, while acknowledging the strong trust and support the company has received from its numerous customers over the years and “appreciating the market for a resounding vote of confidence in the company’s sustained growth and performance in the various business lines.”