Business

Neveah issues N3.99 billion series 5 commercial paper

The conclusion of its Series 5 Commercial Paper Issuance has been announced by Neveah Limited, a commodity trading firm that exports solid minerals and agricultural products.

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Investors, including trustees and asset managers, purchased the offering. Additionally, FMDQ Securities Exchange Limited approved the issuance.

The company claims in a statement that the successful conclusion of the Series 5 Commercial Paper Issuance confirms Neveah’s strategic goal to develop into a leading dealer and exporter of top-quality solid minerals and agricultural commodities to its customers while ensuring a transparent business approach.

The successful debt financing rounds came on the heels of ratings of A1 (short-term) and BBB (long-term) with a positive outlook retained from DataPro Ratings.

The Chief Executive Officer, Mr. Ibidapo Lawal expressed that “our goal is to become the apex export firm for solid minerals and agro products in Nigeria. This issuance will help meet our working capital needs and further enhance our capacity to achieve our goals. We are grateful to all the parties who made this a success.

 

The Managing Director/CEO, Investment Banking at United Capital Plc, Dr. Gbadebo Adenrele stated that “United Capital Plc is pleased to act as Lead Arranger to Neveah on its successful capital raising rounds which support the Company’s strategic growth objectives and will continue to leverage on its deep knowledge of the capital markets to provide the right support for SMEs and mid-market businesses seeking to access funding”

What you should know

  • Neveah Limited is registered by the Nigerian Export Promotion Council (NEPC) as an exporter of agro-commodities and solid minerals. The company was established in 2014 and has its head office in Abuja and operational offices in five states.
  • The company’s services are centred around sourcing solid minerals and agricultural products from the domestic market and exporting them to meet the demands of our customers in the international markets.
  • Neveah’s major markets are in Europe, North America and Asia, where we export commodities to Switzerland, Germany, The United States, Hong Kong and China.
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