TrustBanc Launches N20 Billion Commercial Paper Issuance

TrustBanc has announced the launch of a N20 billion commercial paper issuance, part of its larger N100 billion commercial paper program. This initiative marks the company's continued efforts to engage with the Nigerian short-term debt market to raise funds for working capital.

The issuance is set to open on March 12, 2026, and will close on March 23, 2026. TrustBanc, a fully integrated financial services group, offers a wide range of services including fund management, wealth management, corporate finance, and microfinance.

The company has a strong financial performance, reporting a net interest income of N2.5 billion for 2025, nearly doubling from N1.3 billion in 2024. TrustBanc's total assets grew to N117 billion, with a significant portion attributed to investment financing assets.

The implied yield on the commercial paper issuance ranges from 21.00% to 23.50%, notably higher than the Federal Government of Nigeria's treasury bill yield of 16.72%. Datapro has upgraded TrustBanc's long-term rating to stable, reflecting its good credit quality and strong capacity to meet payment obligations.