Lekki Gardens Secures N11.45bn in Commercial Paper Issuance

Lekki Gardens has successfully led a commercial paper issuance of N11.45 billion, surpassing its initial target of N10 billion, attributed to significant oversubscription from institutional and corporate investors. The issuance, advised by Pathwai Advisor, reflects strong investor demand and sustained market confidence in Lekki Gardens' development track record and governance framework.

The proceeds from this commercial paper will be utilized to support Lekki Gardens' working capital needs, facilitating the completion of several ongoing real estate developments. Adekunle Alad, founder and Chief Executive Officer of Pathwai Advisor, highlighted the success of the transaction as a demonstration of the firm's capacity to mobilize capital across diverse investor groups, including institutional investors and high-net-worth individuals.

Richard Nyong, Managing Director of Lekki Gardens, noted that the strong investor response underscores confidence in the company's business model and governance standards. Emili Ateb, a director at Lekki Gardens, reaffirmed the company's disciplined project execution strategy and robust development pipeline.