Legend Internet Plc Repays N10bn Commercial Paper Successfully

Legend Internet Plc announced the full repayment of its N10 billion Series 1 Commercial Paper, part of a multi-layer issuance program, underscoring the company's financial discipline and commitment to maintaining strong investor relations. The repayment was completed as scheduled, reflecting the company's operational strength and credit profile.

Aisha Abdulaziz, Chief Executive Officer of Legend Internet Plc, stated that the successful repayment reinforces the company's credibility and demonstrates its unwavering commitment to meeting financial obligations. The Series 1 issuance had previously attracted significant demand, with a record oversubscription of 119.7 percent, indicating strong investor confidence.

The repayment is part of Legend Internet's broader capital strategy aimed at supporting broadband infrastructure expansion and enhancing capital efficiency to accelerate investment in Nigeria's digital connectivity ecosystem. Analysts note that this success further strengthens the company's position within the Nigerian debt capital market, especially during a time of heightened scrutiny on corporate credit quality.