Stratos Redeems Inaugural N20bn Commercial Paper Issuance
Oluchi Chibuzor
Stratos Trading Limited has said that it successfully redeemed its series 1 commercial paper (CP) issuance under the company’s N20 billion Commercial Paper Programme.
This, the company said, reaffirms its reputation as a disciplined and creditworthy issuer while demonstrating the strength of its business fundamentals, financial management and commitment to responsible capital stewardship.
In a statement, the firm said the offer attracted strong investor participation and closed at 115 percent subscription, a significant achievement for a first-time issuer accessing the Nigerian debt capital market.
Commenting on the successful redemption, Chief Executive Officer of Stratos Trading Limited, Francisco Lakanu, said, “The successful redemption of our inaugural Commercial Paper issuance reflects the strength of our business model, the confidence investors have placed in our strategy, and our unwavering commitment to prudent financial management.
“We are grateful for the trust shown by the investment community and remain focused on expanding our operational capabilities, strengthening our infrastructure and delivering world-class energy trading and bunkering solutions that create sustainable value for our customers, investors and other stakeholders.”
Speaking on the transaction, Group Chief Executive Officer of Cedrus Group, Olubusayo Adeniyi, said that the successful redemption of this issuance demonstrates the discipline expected of a quality issuer and reinforces investor confidence in Stratos’ business fundamentals.
“Transactions such as this reflect what institutional investors increasingly seek, which is strong governance, resilient operations, disciplined financial management and a clear long-term growth strategy. We are proud to have supported Stratos in achieving this important milestone and remain committed to helping ambitious African businesses access capital markets with confidence,” Adeniyi said.
