Raedial Farms Raises N1.1bn from Capital Market for Expansion Plans

Raedial Farms Limited (RFL) has closed a deal to raise additional N1.1 billion 15 per cent Series II Senior Secured Fixed Rate Medium-term Bond from the Nigerian Capital Market.

The fund, according to a statement, is to be used as working capital to optimise production at their 1,500 hectares of Oil Palm Farm dedicated to seedling, planting, and processing Fresh Fruit Bunches of palms to produce sustainable Crude Palm Oil (CPO) and Palm Kernel Oil (PKO).

The current funding from the Nigerian capital market was facilitated by the team at Boston Advisory with a wealth of experience and a deep understanding of the Nigerian Debt Capital Market.

They also facilitated the fundraising of N2 billion early in the year for Raedial Farms Limited, which Raedial Farms used to expand the existing oil palm farms and milling capacity.

Speaking at the sign-off ceremony, the Managing Director/Chief Executive Officer (MD/CEO) of Raedial Farms Limited, Mr. Uwadiale Agenmonmen, described how much potential exists in the agricultural value chain of the country and explained that, with the right decisions and right backing from the government, “we can create economic value not only for players in the industry but for the host communities via employment opportunities, increased trading activities and create value for the state through tax payments.”

Raedial Farms Limited is a fast-growing agricultural company that has become a leader in the oil palm sector of Nigeria within a decade of existence. With operational offices in Port Harcourt and Benin, Raedial Farms prides itself on being backed by only the latest technological innovation and a dedicated workforce of over 500 people.