Sunbeth Global Announces N100 Billion Commercial Paper Issuance

Sunbeth Global Concept Limited, a Nigerian-based company focused on the agricultural commodities industry, has announced a N100 billion commercial paper issuance as part of its N200 billion commercial paper program. This initiative marks the company's strategy to utilize the Nigerian short-term debt market to raise funds for working capital requirements.

The commercial paper offering is set to open on February 27, 2026, and will close on March 5, 2026. Sunbeth Global, established in 2017, primarily sources, processes, and exports raw cocoa beans and cashew nuts, exporting 200,000 metric tons of cocoa beans and 60,000 metric tons of cashew nuts annually.

The commercial paper is expected to offer an annual yield ranging from 21.00% to 23.50%, depending on the tenor, representing a competitive risk premium compared to short-term government securities. Despite a decline in the interest coverage ratio, the company maintains a strong revenue growth and healthy cash flow, supporting its ability to meet short-term debt obligations.