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Zeenab Foods Redeems N3.43bn Commercial Paper Issuance

by Olushola Bello
2 months ago
in Business
Zeenab Foods
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Zeenab Foods Limited has announced the successful redemption of its ₦3.43 billion Commercial Paper (CP) obligations under Series 1 (Tranche B) and Series 2 (Tranches A & B).

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The CPs matured in March and April 2025, respectively, and the company fulfilled full repayment to all investors ahead of their respective due dates.

The firm said the successful redemption highlights its robust liquidity position and unwavering commitment to sound financial management, and also reflects the company’s ongoing dedication to transparency and trust in the Nigerian Debt Capital Market.

Speaking on the development, managing director and CEO of Zeenab Foods Limited, Dr. Ayemere Victor said, “This redemption reflects our company’s credibility, business excellence, and dedication to maintaining investor trust. We remain focused on building a reputation anchored on transparency, resilience, and sustainability.”

He further expressed appreciation to the investors and stakeholders, stating, “We are deeply grateful to our institutional investors for their confidence in Zeenab Foods Limited. Special thanks to Pathway Advisors Limited, our Financial Adviser, Transaction Sponsor, and Lead Arranger, for their continued professional guidance and unwavering support throughout the transaction.”

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On his part, managing director/CEO of Pathway Advisors Limited, Adekunle Alade, disclosed that

“Pathway Advisors Limited is proud to have acted as Financial Adviser, Transaction Sponsor and Lead Arranger to Zeenab Foods Limited, playing a pivotal role in the company’s successful capital-raising efforts and the settlement of its ₦3.43 billion Series 1 (Tranche B) and Series 2 (Tranches A & B) obligations under its ₦20 billion Commercial Paper Issuance Programme.”

He commended Zeenab Foods Limited for its strong business fundamentals and financial discipline, which have reinforced investor confidence in the company. He also highlighted the company’s impressive track record, noting the recent successful redemption of N1.6 billion Series 1 (Tranche A) Commercial Paper on September 30, 2024, which further demonstrates Zeenab’s financial strength and reliability in the capital market.

He reiterated Pathway Advisors Limited’s ongoing commitment to leveraging its extensive capital market expertise to support Zeenab Foods Limited and other reputable mid-market companies seeking funding from the Nigerian capital market.


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