Bigoz Logistics Limited has announced the maturity and successful redemption of its debut N655 million Series 1 Tranche A under its N20 Billion Commercial Paper Programme.
The N655 million 270-day Series 1 Tranche A Commercial Paper which was issued and quoted in August 2022 on the FMDQ Securities Exchange, matured on the 5th of May, 2023. In line with best practice, the Exchange has been informed of the repayment. Pathway Advisors Limited acted as the Financial Adviser/Arranger while Qualinvest Capital Limited was the sponsor.
Bigoz Logistics is rated A (Positive outlook) by Datapro Limited evidencing the Company’s good funding profile, diversified revenue, good capitalization, good liquidity profile, good credit quality and experienced management team.
The Managing Director of Bigoz Logistics Limited, Mr. Bright Ajaegbu in a statement said, “We are pleased to have fully repaid all the investors in the Series 1 Tranche A issuance. We show gratitude to all the institutional investors for their participation and reiterate our commitment to be a counterparty that can be counted on for the long term. This CP redemption reflects Bigoz’s capacity to meet its financial obligations as at when due. Bigoz would continue to tap into the domestic capital market to fund its working capital needs to exponentially grow its business.”
Bigoz Logistics Limited is a 3rd-Party Logistics (3PL) service provider with business focus on freight forwarding, project logistics management, shipping agency, haulage and supply-chain management. Its services include packaging solution, general warehousing, supply sales, consulting services, logistics, delivery solutions, custom clearance, courier services and specialized warehousing. The Company commenced operations on 3rd January 2019 and based in Lagos.