Tuesday, December 5, 2023
Breaking News, Nigeria News, Naija News On cloudnewsmag
  • HOME
  • NEWS
  • 2023 ELECTIONS
  • CRIME WATCH
  • EDUCATION
  • ENTERTAINMENT
  • HEADLINE
  • NEWS
  • POLITICS
  • SPORTS
  • WORLD
No Result
View All Result
  • HOME
  • NEWS
  • 2023 ELECTIONS
  • CRIME WATCH
  • EDUCATION
  • ENTERTAINMENT
  • HEADLINE
  • NEWS
  • POLITICS
  • SPORTS
  • WORLD
No Result
View All Result
Breaking News, Nigeria News, Naija News On cloudnewsmag
No Result
View All Result
Home HEADLINE

Neveah limited secures N20billion upsize of commercial paper programme

Cloudnewsmag by Cloudnewsmag
May 18, 2023
in HEADLINE, NEWS
0

Neveah Limited, a leading indigenous export company, today, announced the upsize of its commercial paper programme from N10 billion naira to N20 billion naira by FMDQ Exchange.

The company has successfully issued and repaid a total of 14.54 billion in previous commercial papers issuances.

Following the registration of its initial N10 billion commercial paper programme in 2021, the approval of this commercial paper programme upsize by the FMDQ comes on the back of Neveah’s impressive business growth over the last few years.

“This is a major milestone for our company, and we are extremely excited for the opportunities this upsize provides for our business growth as it strengthens the company’s capacity to fulfil increasing contractual obligations and fund its short-term working capital needs,” says Mr Ibidapo Lawal, CEO and Founder of Neveah Limited.

The Managing Director, of Investment Banking at United Capital Plc, Dr. Gbadebo Adenrele stated that: ‘’United Capital Plc is pleased to have acted as Lead Arranger to Neveah Limited on its successful capital raising rounds and the recent programme upsize to N20billion, which underpins the company’s strategic growth objectives.

We developed retail and wholesale products to increase market penetration – Abbey Mortgage Bank
Trending
We developed retail and wholesale products to increase market penetration – Abbey Mortgage Bank

We will continue to leverage on our considerable knowledge of the capital markets to provide adequate support for Neveah as well as other SMEs and mid-market enterprises seeking to access funding.”

With BBB-and BBB ratings from Agusto & Co and DataPro, the company has demonstrated great financial strength which is as a result of the improvement in the operations of the company.

The Company has raised about N15billion and has a standing history of successfully repaying all obligations when they are due without any case of default.

About Neveah Limited

NeveahLimited is a leading indigenous export company in Nigeria that deals in agro commodities, base metal and minor metals. The company exports to over 15 countries in Europe and Asia, with its major markets also spanning across North America.

Working closely wth select suppliers for its materials, Neveah provides the best products at the most affordable prices to its global customers.

In 2022, Neveah Limited was awarded Sectoral Exporter of the year by the Nigerian Export Promotion Council (NEPC).Neveah limited was recently awarded as the 18th fastest growing company in Africa by the Financial Times.

Related

  • Most valuable companies in Nigeria as of Q1 2023
  • Dollar assets listings, game changer to addressing Nigeria’s FX supply crunch
  • Jada Smith reacts to rumors that Will Smith allegedly slept with Duane Martin
  • Tension in Delta as tribunal delivers judgment today

Tags: Corporate UpdatesNeveah Limited
Previous Post

Best way to ensure financial inclusion is to reduce cost of data – Segun Agbaje 

Next Post

Why foreign oil export shipping vessels are leaving Nigeria

Cloudnewsmag

Cloudnewsmag

Next Post
Why foreign oil export shipping vessels are leaving Nigeria

Why foreign oil export shipping vessels are leaving Nigeria

Recent News

Mitchel Ihueze, 27, Miss Universe Nigeria 2023, and her fiancée, 57, captivate in black outfits

Mitchel Ihueze, 27, Miss Universe Nigeria 2023, and her fiancée, 57, captivate in black outfits

Speaking Out Amidst Controversy: Damilola Adegbite’s Fresh Perspective

Speaking Out Amidst Controversy: Damilola Adegbite’s Fresh Perspective

“`html
Urgent Plea for 14-Year-Old in Need of Knee Tumour Surgery

“`html Urgent Plea for 14-Year-Old in Need of Knee Tumour Surgery

Witnessing the Introduction of Tinubu’s Daughter as ‘Queen of Nigeria’ at a Nasarawa Wedding

Witnessing the Introduction of Tinubu’s Daughter as ‘Queen of Nigeria’ at a Nasarawa Wedding

SPECIALIZATIONS

Breaking News, Nigeria News, Naija News On cloudnewsmag

cloudnewsmag Nigeria, an independent online newspaper that specializes on publishing daily Nigeria News, Breaking News, Naija News in Politics, Economy, Entertainment, Sports & Lots More!

RELEVANT PAGES

  • Contact
  • About
  • Privacy Policy
  • Disclaimer

ALERT US

Important Press Releases, Breaking Stories, Special Investigations: admin@cloudnewsmag.com

OFFICE ADDRESS

Address: Emma Nnaemeka Street, 420110, Awka, Anambra, Nigeria

Phone: +234 706 714 4207

Follow Us

Copyright © 2023 Cloudnewsmag Nigeria

  • Contact
  • About
  • Privacy Policy
  • Disclaimer

© 2023 Cloudnewsmag -Breaking News Updates Cloudnewsmag.

No Result
View All Result
  • HOME
  • NEWS
  • 2023 ELECTIONS
  • CRIME WATCH
  • EDUCATION
  • ENTERTAINMENT
  • HEADLINE
  • NEWS
  • POLITICS
  • SPORTS
  • WORLD

© 2023 Cloudnewsmag -Breaking News Updates Cloudnewsmag.