Veritasi Homes Raises N16.76bn in Successful CP Issuance

Veritasi Homes Property PLC successfully raised N16.76 billion through its Series 2 commercial paper issuance, significantly outperforming its initial target of N12 billion. The issuance attracted widespread participation from a diverse pool of institutional investors, reflecting strong market demand.

This follows Veritasi Homes' recent N10 billion three-year Series 1 fixed-rate bond issuance, which carried a 20 percent coupon rate. Adenik Yusuf Mondai, a representative from Pathwai Advisor Limited, commented on the success of the transaction, emphasizing the market's confidence in Veritasi Homes' performance and repayment track record.

Adekunl Alad, the founder and Chief Executive Officer of Pathwai Advisor Limited, noted the strong oversubscription of the issuance, which underscores the company's solid fundamentals and efficient access to funds. Nola Adetola, the Managing Director and Chief Executive Officer of Veritasi Homes, stated that the results reflect the resilience of their business model and ongoing trust from the investment community.

The funds raised will be deployed to enhance corporate liquidity and accelerate ongoing development activities across their real estate portfolio.