VFD Group Raises N27.2bn in Successful CP Issuance

VFD Group PLC successfully raised N27.2 billion through its Series 1 commercial paper (CP) issuance, part of its N50 billion CP program, following a robust investor demand that resulted in a 100% oversubscription of the initial offer. Originally, the company aimed to raise N15 billion; however, due to significant participation from institutional and high net worth investors, the issuance was upsized to N27.2 billion across two tenors of 270 days and 364 days.

Folajimi Adeley, Executive Director of Finance at VFD Group PLC, noted that the strong investor demand and subsequent upsizing reflect the resilience of the company's credit profile and market confidence. The proceeds from the issuance will be deployed towards short-term working capital requirements and general corporate purposes, aligning with the group's structured liquidity management strategy.

This successful issuance reinforces VFD Group's active engagement in Nigeria's capital market and its ability to access competitive funding through diversified channels.