Neveah Limited, a commodity export and trading company in Nigeria, has redeemed its series three and four commercial papers at maturity.
The leading commodity trading company registered its N10b commercial papers with approval from the FMDQ in 2021, which, as with any organisation, has provided alternative sources of funding for its short-to-mid-term objectives.
The company, in a statement, said that the Series three commercial-paper repayment, valued at N3.6b, was issued on May 26, 2022. Following a tenure of nine months, the series three commercial paper was successfully redeemed, in line with its maturity on February 20,2023.
Delivering on its N2.1b series four commercial paper issued on June 1, 2022, Neveah said that it has continued to meet its short-term working capital requirements through the paper’s six-month tenure before its maturity on November 28, 2022.
As part of its N10b commercial paper programme,…
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