- Pathway Advisors Limited successfully led Veritasi Homes & Properties Plc’s oversubscribed N6.135 billion Series 1 Commercial Paper issuance under a new N20 billion CP programme
- The issuance attracted diverse institutional investors, reflecting strong confidence in Veritasi’s financial health, governance, and market reputation
- Funds raised will support Veritasi’s working capital needs, with both companies reaffirming their commitment to transparency and growth in Nigeria’s capital market
Pathway Advisors Limited, Nigeria’s leading issuing house and financial advisory firm, has recorded another stellar performance in its role as Financial Adviser, Transaction Sponsor, and Lead Arranger to Veritasi Homes & Properties Plc on another oversubscribed issuance of N6.135 billion Series 1 Commercial Paper issuance under its newly registered N20.00 billion Commercial Paper programme. Initially set at N5.00 billion, the offer was oversubscribed due to strong investor confidence in Veritasi.
This new Series 1 Commercial Paper follows the previous N20 billion CP Programme registered in 2022, which has expired. Under the expired programme, Veritasi Homes successfully raised N15 billion, with all matured obligations fully redeemed on their respective due dates.
The 270-day tenor Series 1 CP attracted a broad range of institutional investors, reflecting strong confidence in Veritasi Homes’ financial performance, market reputation, and creditworthiness.
According to the Managing Director/CEO of Veritasi Homes & Properties Plc, Mr. Nola Adetola, “The success of this issuance is a testament to the strength of our diversified business model, market reputation, and creditworthiness. I sincerely appreciate the continued trust of asset managers, insurance firms, and other institutional investors in Veritasi Homes & Properties Plc.
Adetola affirmed that funds will be strategically utilised to finance the company’s working capital needs, ensuring operational efficiency and sustained business growth in the real estate industry. He commended Pathway Advisors Limited, the Financial Adviser, Transaction Sponsor, and Lead Arranger, for their pivotal role in successfully executing the transaction.
Commenting on the transaction, the Founder/CEO of Pathway Advisors Limited, Mr. Adekunle Alade, said: ‘’We are proud to have supported Veritasi Homes & Properties Plc on another successful CP issuance. The oversubscription reflects strong investors’ confidence in Veritasi Homes’ financial performance, corporate governance, and creditworthiness. We thank the Board and Management of Veritasi Homes & Properties Plc for their continued trust in us.’’
Alade also highlighted the company’s impressive track record since 2022, having issued multiple series and fully redeemed all matured obligations, which builds investors’ confidence. He reaffirmed Pathway Advisors Limited’s commitment to supporting credible companies in accessing short-term and long-term funding from the Nigerian capital market.
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