MeCure Industries Launches N14 Billion Commercial Paper

MeCure Industries Plc has initiated an offer for up to N14 billion in Series 8 Commercial Paper as part of its N40 billion Commercial Paper Programme. The Lagos-based manufacturer of medicines and multivitamins aims to raise funds for short-term working capital needs.

This issuance carries an implied annual yield of 21%, with investors potentially earning approximately 15.36% over the 267-day duration, provided MeCure repays in full. The offer commenced on October 14, 2026, and will close on October 20, 2026.

This follows MeCure's previous issuance of up to N10 billion Series 7 commercial paper in February 2026, which had a gross annualised yield of 21.75%. The company fully repaid its N3 billion bond in April 2026, enhancing confidence in its ability to meet debt obligations.

MeCure reported a 20.4% revenue increase to N44.85 billion in H1 2026, with operating profit rising by 41% to N10.90 billion, indicating a growing business that could support future repayment.