One of Africa’s leading and most innovative real estate Development Companies, Zylus Homes and Property Limited, has announced the successful maturity and full redemption of its Series 1 Commercial Paper under its NGN10 billion Issuance Programme.
The 270 days Series 1 (N0.520 billion) issued in November 2023 on the FMDQ Securities Exchange Limited (FMDQ) has matured and was redeemed on 13th August 2024.
This redemption represents another significant milestone in Zylus Home’s financial journey and a strong commitment to building investors’ confidence, demonstrating the company’s good credit quality and satisfactory capacity for timely payment of financial commitments.
Dr. Oluwatosin Olatujoye, the Founder and Chief Executive Officer of Zylus Homes, articulated the significance of this accomplishment. He said, “It is with great satisfaction that we have met our financial obligation through the timely redemption of the ₦0.520 billion Series 1 CP. He added that this is a testament to the Zylus brand’s credibility, exemplary business model, and steadfast commitment to sustaining investor confidence within the Nigerian Debt Capital market.
He further extended profound appreciation to the company’s financial partners, Pathway Advisors Limited, Keystone Bank Limited, and all institutional investors for their trust in the company while reaffirming the commitment to be a reliable and dependable partner in the long term.
Similarly, Mr. Sonekan Wasiu Olasunkanmi, Executive Director at Zylus Homes, remarked on the impact of this redemption: “Our proven track record and our consistent delivery of value are well-demonstrated by this redemption”. He added that the successful execution of the commercial paper redemption will strategically position Zylus Homes on a global scale as a credible and trustworthy brand, thereby supporting future capital raise in alignment with the company’s growth trajectory.
Zylus Homes is a fast-growing organization engaged in the development of residential properties which include maisonettes, semi-detached duplexes, and terraces as well as the development of service plots, all sited in choice locations along the Lekki Express Way axis in Lagos State. The Company also sells serviced plots of land in strategic locations in Lagos State, Ogun State, Oyo State, Enugu State, and Abuja. Since its inception, it has allocated more than 3,500 plots of land and delivered more than 700 houses with all its properties properly documented.
