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Johnvents Industries Limited (Johnvents or the Company) has successfully closed its ₦80 billion Series 1 Commercial Paper issuance under its ₦250 billion Commercial Paper Programme. The offer attracted subscriptions above the ₦80 billion issue size, reflecting strong institutional participation and continued market interest in the Company’s credit story, operating performance, and growth plans.
The outcome comes at an important stage in Johnvents’ evolution. The business has grown from agricultural commodity sourcing and trading into an integrated agribusiness and food manufacturing platform through organic investment, capacity expansion and strategic acquisitions.
Johnvents Industries Limited, the issuer under the Commercial Paper Programme, sits within the wider Johnvents Group, whose businesses connect commodity origination and aggregation, storage, processing, exports and branded consumer products. This model moves locally sourced agricultural output from farmgate to industrial and consumer markets while strengthening quality control, traceability and value capture in Nigeria.
The Group’s next phase is focused on increasing processing throughput, improving capacity utilisation, extending manufacturing into higher-value consumer goods, and broadening domestic distribution and export relationships. By processing more agricultural output locally, the Group aims to strengthen Nigeria’s non-oil export base, sustain jobs and enterprise across its network of farmers, aggregators, transporters, distributors and service providers, and build a Nigerian-origin agribusiness and food company capable of competing across regional and global markets.
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The proceeds will be applied in accordance with the approved offer documents to support Johnvents’ seasonal working capital requirements, including commodity procurement and processing during the current operating cycle. This funding is intended to help the business secure raw materials within defined seasonal windows and support throughput across its processing operations.
The close follows an extensive investor engagement programme, which included management meetings and an investor tour of selected Johnvents facilities. The engagement gave investors direct access to management and a first-hand view of the Company’s operations, processing capacity, inventory cycle and integrated value chain.
Johnvents also completed the full redemption at maturity of its Series 21 Commercial Paper, with an aggregate face value of ₦28.64 billion. The repayment was completed in accordance with the terms of the instrument and reflects the Company’s continued focus on liquidity planning and the timely settlement of its market obligations.
“The response to this issuance is an important vote of confidence in what Johnvents is building: a Nigerian business that connects agriculture to industry, exports and everyday consumer products. Our ambition is to create more value locally and build a company capable of competing across markets. That confidence also places a responsibility on us to execute with discipline. We will apply the proceeds in line with the offer documents while maintaining our focus on liquidity and timely repayment. We thank our investors for their confidence and appreciate United Capital and Regius Capital for leading the transaction, together with the other Joint Arrangers and transaction parties.”
John Alamu, Group Managing Director
“The issuance was structured around the working capital cycle of the business. Cocoa and other agricultural commodities are procured within defined seasonal windows, while processing, shipment and collection take place over the months that follow. Closing this issuance while fully redeeming Series 21 at maturity reflects our focus on matching funding to operating cash flows, managing maturities deliberately and maintaining adequate liquidity throughout the business cycle.”
Samuel Olaifa, Group Head, Treasury
“Investors wanted a clear understanding of the relationship between Johnvents’ operating assets, inventory cycle, cash generation and repayment capacity. The investor tour and subsequent engagements gave them direct access to management and operations, allowing the transaction to be assessed on the strength of the underlying business. The outcome reflects the value of transparent investor engagement and the depth of institutional interest in well-structured credit opportunities. We appreciate Johnvents for the mandate, United Capital and the other transaction parties for their collaboration, and the investors who participated in the issuance.”
Kayode Omosebi, Acting Managing Director, Regius Capital
The transaction was led by United Capital Plc and Regius Capital Limited, with support from the other Joint Issuing Houses, advisers and transaction parties.
About Johnvents Industries Limited
Johnvents Industries Limited is the issuer under the Commercial Paper Programme within the Johnvents Group. The wider Group operates an integrated agribusiness and food manufacturing platform spanning commodity sourcing, processing, exports and branded consumer products.
