VFD Group Offers 24.55% to Raise N6bn from Debt Market
A diversified investment company, VFD Group Plc, has offered a 24.5525% discount rate to raise about N6 billion via series 4 commercial paper issuance in the debt market.
The offer will close on Thursday, its arranger, Comercio Partners Capital Limited, told investors in an emailed note on Monday. The investment company plans to deploy the proceeds from the commercial paper sales to investors as working capital and to meet its other funding requirements.
According to a document obtained, the 270-day series 4 commercial paper issuance is part of the group’s N20 billion program. The investment company, with a diversified portfolio spanning multiple sectors, including banking, non-banking financial services, and others, maintains a sector-agnostic approach to investing.
VFD Group achieved a 33% growth in its gross earnings from N33.8 billion in 2022 to N45.1 billion in 2023.
The group maintains a stable outlook with a short-term rating of A1 by DataPro, supported by a highly experienced and stable executive management team. # VFD Group Offers 24.55% to Raise N6bn from Debt Market Lafarge Africa Rises by 28% as Investors Target Acquisition Price
