Sunbeth’s Commercial Paper Oversubscribed 65%, Raises N165.7bn

Sunbeth Global Concepts Limited said it has successfully raised N165.73 billion through Series 1, Series 2 and Series 3 issuances under its Commercial Paper Programme, surpassing the N100 billion initially targeted for the fundraising.

The issuance, which opened to investors on February 27, 2026 and closed on March 6, 2026, saw a 65 per cent oversubscription reflecting growing confidence in the firm’s operating model and expanding role within the agricultural commodities value chain.

The programme was structured across three series with tenors of 179 days, 270 days and 364 days, offering investors a range of short-term investment options. The notes were issued at discount rates ranging from about 19.0 per cent to 19.3 per cent, translating to implied yields of between 21.0 per cent and 23.5 per cent.

According to the company, the proceeds from the issuance will primarily support the working capital requirements of its cocoa trading business in Nigeria, enabling it to strengthen sourcing, financing and export of cocoa to international markets.

The chief operating officer of Sunbeth Global Concepts Limited, Nzubechukwu Anisiobi, said the strong response from investors demonstrates confidence in the company’s strategy and growth prospects.

He said, “the strong investor response to our Series 1, 2 and 3 Commercial Paper issuances is a clear vote of confidence in Sunbeth’s business model and long-term strategy. We are deeply grateful to our investors and financial partners for their trust and support. This milestone further strengthens our capacity to scale our trading operations and deepen our contribution to Africa’s agricultural export sector.”

Also speaking, chief finance officer of the company, Adeyemi Aduwo, noted that the outcome reflects increasing investor interest in Nigeria’s agricultural export value chain, particularly the cocoa market.

He said, “the cocoa market is going through an important transition across West Africa, and companies that combine strong trading capabilities with disciplined capital management will be best positioned to capture the opportunity.”

Aduwo added that the successful issuance would enhance the company’s liquidity flexibility, allowing it to align funding with trading cycles and manage market volatility through structured risk management.

“This issuance strengthens our liquidity flexibility, allowing us to align funding with trading cycles, manage volatility through structured risk management and continue expanding across the cocoa value chain,” he said.

Sunbeth Global Concepts said its long-term strategy is to deepen participation across the cocoa value chain beyond trading, including processing and other higher-value segments that can deliver more stable margins while strengthening Africa’s position in the global cocoa market.

The company added that the commercial paper will be quoted on either the FMDQ Exchange or the Nigerian Exchange (NGX), providing transparency and liquidity for participating investors.