Leading cocoa processor ,JohnVent Industries limited has opened its Series 8&9 commercial paper offer,which could raise up to N40 billion in additional capital for the company.
Lead arranger for the offer which opened June 30,2025 is investment bank, Crodros Capital Ltd.
The 6 month commercial paper would be redeemed on January5 and April 3,2026.According to Cordros in its offer documents, JohnVent intends to use the money raised for short term working capital.Tenor 1 is 182 days,while discount rate is 21.65 per cent.Implied yield is put at 24.25 per cent. Whereas ,tenor 2,270 days, has a discount rate of 22.331 per cent and implied yield of 23.750 per cent.
The offer opened June 30,2025 and closed July 4,2025.Earlier,May 27,2025 John Vent had launched a commercial paper offer to raise N100 billion in debt. The deal was arranged by United Capital as lead arranger, while Ava Capital, Coronation ,Commercio Partners, Aiico Capital,, FCMB ,Cardinalstone, Quantum Zenith and CFG Maynard were joint arrangers.Its due for redemption January 5,2026.
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