Sunbeth Global Concepts to Raise N150bn for Cocoa Procurement

Sunbeth Global Concepts Limited has announced its intention to raise up to N150 billion through its approved N500 billion Commercial Paper Issuance Programme. This funding will be utilized to finance cocoa procurement for the new 2026/27 cocoa season, addressing short-term working capital needs for cocoa purchases at origin.

The initiative supports the company’s international trading commitments and the procurement of cocoa inventory for its processing facility, which has a capacity of 70,000 metric tonnes per annum and is scheduled to commence operations in March 2027. The proposed issuance will consist of three series with tenors of 180, 270, and 364 days, issued in tranches based on cocoa procurement requirements and market conditions.

Sunbeth has demonstrated repayment discipline through the timely redemption of its debut Commercial Paper series and will maintain national-scale credit ratings from established African rating agencies, with long-term ratings ranging from BBB to BBB+ and a short-term rating of A2. Chapel Hill Denham Advisory Limited is acting as Lead Arranger for this transaction.