Pathway Advisors Limited, one of Nigeria’s leading issuing houses and financial advisory firms, has successfully served as Financial Adviser, Transaction Sponsor, and Lead Arranger for Veritasi Homes & Properties Plc in its N6.135 billion Series 1 Commercial Paper (CP) issuance. Originally set at N5.00 billion, the offer was oversubscribed, reflecting strong investor confidence in Veritasi Homes’ creditworthiness and market reputation.
This Series 1 CP forms part of Veritasi Homes’ newly registered N20 billion CP programme, following the expiry of its previous 2022 programme under which the company raised N15 billion and fully redeemed all matured obligations on schedule. The 270-day tenor CP attracted a wide range of institutional investors, including asset managers and insurance firms.
Veritasi Homes’ Managing Director/CEO, Mr. Nola Adetola, said, “The success of this issuance is a testament to the strength of our diversified business model and continued investor trust. The funds will be strategically deployed to finance working capital, ensuring operational efficiency and sustained growth.”
Pathway Advisors’ Founder/CEO, Mr. Adekunle Alade, added, “We are proud to have supported Veritasi Homes on another successful CP issuance. The oversubscription demonstrates investor confidence in their financial performance, corporate governance, and creditworthiness.”
