VFD Group Launches N20 Billion Commercial Paper Issuance

VFD Group Plc has initiated a N20 billion Commercial Paper (CP) issuance as part of its N50 billion Commercial Paper Programme, which opened on August 28, 2026, and will close on September 4, 2026. This issuance is intended to meet the company's short-term working capital needs and funding requirements.

VFD Group has reported a significant increase in earnings, with profit after tax more than doubling in the first half of 2026. The company operates across various sectors, including financial services, capital markets, technology, real estate, hospitality, media and entertainment, infrastructure, and energy.

The Commercial Paper offers an implied annual yield of 21.50% for the 270-day Series 2(A) and 23.50% for the 364-day Series 2(B). Investors must consider the corporate credit risk associated with the issuance, as repayment depends on VFD Group's financial strength and liquidity.

The minimum subscription for the CP is N5 million, with gross returns of approximately N686,088 and N949,307 for the respective series at maturity.