VFD Group Successfully Raises N27.2bn via CP Issuance

VFD Group Plc has successfully raised N27.2 billion through its Series 1 Commercial Paper (CP) issuance under its N50 billion CP Programme following strong investor demand that resulted in a 100 per cent oversubscription of the initial offer.

The Series 1 issuance was originally launched with a target raise of up to N15 billion. However, driven by robust participation from institutional and eligible investors, the offer was oversubscribed by approximately N15 billion, prompting the company to upsize the issuance to N27.2 billion.

The CP was issued across two tenors, 270 days and 364 days, attracting a broad base of qualified institutional investors and high-net-worth participants within Nigeria’s domestic debt market.

A Strong Vote of Market Confidenc. The significant over subscription underscores sustained investor confidence in VFD Group’s diversified business model, disciplined capital management frame-work, and long-term growth trajectory.

Commenting on the successful issuance, Executive Director, Finance, VFD Group Plc, Folajimi Adeleye,  said:“The strong investor demand and subsequent upsizing of the issuance to N27.2 billion reflect the resilience of our credit profile and the market’s confidence in our strategic direction.” 

“We remain committed to prudent capital management, funding diversification, and delivering sustainable value to our shareholders and stakeholders.”

According to the company, proceeds from the issuance will be deployed towards short-term working capital requirements and general corporate purposes, in line with the Group’s structured liquidity management strategy.

By leveraging its established CP Programme, VFD continues to optimise its cost of capital while maintaining flexibility within an evolving macroeconomic environment. The successful raise further reinforces the Group’s active engagement in Nigeria’s capital markets and its ability to access competitive funding through diversified channels.

The company added that the Series 1 CP issuance forms part of VFD Group’s broader capital strategy, which combines equity strengthening with efficient short-term funding instruments. The strong market reception demonstrates investor alignment with the Group’s operational resilience and expansion plans across its diversified portfolio.

VFD Group is an African investment company focused on building capacity within the continent and providing platforms that help actualize strategic goals. With a portfolio spanning multiple sectors, the Group is committed to developing exceptional leadership and delivering sustainable value across its ecosystem.