Zeenab Meals Restricted, a number one meals processing and agro-commodity buying and selling firm in Nigeria, has efficiently signed a N20billion Business Paper (CP) Issuance Programme on the FMDQ Securities Trade Restricted.
The Board Listings and Markets Committee of the Monetary Market Sellers Citation (FMDQ) Securities Trade authorised the CP Programme.
The signing ceremony occurred on July 2, 2024, on the firm’s company head workplace at Idu Industrial Space, Federal Capital Territory (FCT) Abuja.
The occasion was attended by key stakeholders, together with Pathway Advisors Restricted (Monetary Adviser and Transaction Sponsor), Polaris Financial institution Restricted (Gathering and Paying Agent), Greychapel Authorized (Transaction Solicitor), and ATC Skilled Companies (Auditor to the Issuer).
In accordance with the MD/CEO of Zeenab Meals Restricted, Dr Victor O. Ayemere, the Business Paper program will place Zeenab Meals to navigate the monetary panorama of the agro-commodities sector, in the end resulting in enhanced progress alternatives and sustainable success available in the market.
“It’s going to additionally support in assembly the corporate’s short-term capital and funding wants, in the end permitting for a broader vary of funding choices and creating further worth for stakeholders. The proceeds from the CP issuance will likely be particularly used to buy rice paddy and improve worth addition to different agro-commodities earlier than export,” Ayemere mentioned.
He expressed gratitude to Pathway Advisors Restricted, the Monetary Adviser and Transaction Sponsor, for his or her efforts in making certain the profitable approval of the CP Programme.
Talking on the signing ceremony, CEO of Pathway Advisors Restricted, Mr. Adekunle Alade, mentioned: “Pathway Advisors Restricted is happy to have suggested Zeenab Meals Restricted on the institution of its inaugural N20 billion CP issuance programme, which is able to allow the Firm to entry competitively priced short-term funding from institutional traders.
“It’s going to additionally present a platform for the corporate to diversify sources of debt funding to incorporate non-bank traders, thereby growing assets out there for strategic planning whereas additionally decreasing the common value of borrowing.”
