Afrinvest Opens N15bn Commercial Papers for Subscription
Afrinvest Capital Limited has opened series 3 & 4 Commercial Paper Issuance of up to ₦15 billion for investors subscription. The investment firm priced 180-day commercial paper at discount rate of 20.6570% while 268 days to maturity attracted discount rate of 21.4785%. According to the investment firm offer document, the commercial paper is scheduled to close on Tuesday, 6th May 2025.
The firm stated that the proceeds from the issuance will be used to support the working capital requirements and general corporate purposes. Afrinvest is a capital market holding company with a focus on West Africa and active in six principal areas which includes investment banking, securities trading, asset management, trust services, investment research & consulting and financial technology.
“In its over 29 years of operations, the Issuer has provided capital raising, financial and wealth advisory services to a wide range of clients including corporates, governments and individuals through numerous market-leading transactions in the domestic and global financial space”, the offer document stated.
Afrinvest has emerged as one of the most reputable investment banking groups in Sub-Saharan Africa with subsidiaries entrenched in key areas of the financial market.
Its subsidiaries includes Afrinvest Asset Management Limited, Afrinvest Capital Limited, Afrinvest Consulting Limited, Afrinvest Securities Limited, Afrinvest Trustees Limited and Andromeda Technology Solutions Limited. The Issuer’s capital market operating subsidiaries are regulated by the Securities and Exchange Commission (SEC).
By leveraging on its franchise platforms, in-depth experience and increasing investment in technology, Afrinvest is poised to build Africa’s preferred neo bank by extending its leadership in product innovation and retail market penetration.
As at December 2024, Afrinvest’s total assets stood at ₦79.3 billion compared to ₦69.8 billion recorded in December 2023. The Issuer successfully raised its ₦12.2 billion Series 1 & 2 CP in January 2024 which achieved an impressive oversubscription rate of 144% against the offered size of ₦5.0 billion. The Series 1 & 2 CPs were redeemed in June and October 2024. This underscores the Issuer’s creditworthiness in the debt capital market. #Afrinvest Opens N15bn Commercial Papers for Subscription#
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