Pivot Integrated Energy Raises N100 Billion in CP Issuance

Pivot Integrated Energy Services Limited successfully secured N100.08 billion from its maiden Commercial Paper (CP) issuance, marking its first foray into Nigeria’s debt capital market. The Series 1 issuance, part of a N300 billion Commercial Paper Programme, attracted significant demand from institutional investors, surpassing the initial N100 billion target.

Proceeds will be utilized for trading, storage, distribution, and supply of refined petroleum products in Nigeria and select African markets. Babajide Babatope, Managing Director of Pivot, described the successful issuance as a pivotal moment for the company, affirming its growth trajectory.

Adekunle Alade, Founder and CEO of Pathway Advisors Limited, noted that the strong subscription reflects investor confidence in Pivot's fundamentals. The transaction was sponsored and arranged by Pathway Advisors, with ProvidusUnity Bank and Fidelity Bank Plc serving as Collecting and Paying Agents, and Alliance Law Firm as Solicitor.

This issuance occurs amid a revitalized commercial paper market in Nigeria, with outstanding CPs rising significantly.