Investors Oversubscribe Johnvents’ N80bn Commercial Paper Issuance

This was disclosed in a statement by the company on October 23, 2026 and made available to journalists.

According to the statement, the issuance, floated under the company’s N250 billion Commercial Paper Programme, attracted subscriptions far above the offer size.

The development reflected strong institutional participation and sustained interest in company’s business operations and expansion plans.

Moreover, the successful issuance comes as the agribusiness company intensifies efforts to expand its operations, increase processing capacity and strengthen its position in Nigeria’s agricultural value chain.

Johnvents disclosed that the proceeds from the issuance would be used to support the company’s seasonal working capital requirements, particularly commodity procurement and processing during the current operating cycle.

It stated that the funding would enable the company to secure raw materials within critical seasonal windows and sustain operations across its processing facilities.

It is a known fact that Johnvents has evolved from an agricultural commodity sourcing and trading business into an integrated agribusiness and food manufacturing platform.

Its operations spans commodity aggregation, storage, processing, exports and branded consumer products.

According to Johnvents, the next phase of growth would focus on increasing processing output, improving capacity utilisation, expanding into higher-value consumer goods and strengthening domestic distribution and export relationships.

The Group Managing Director, John Alamu, in his remarks, described the oversubscription of the commercial paper issuance as a strong vote of confidence in the company’s vision of connecting agriculture with industry, exports and consumer markets.

“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,” Adamu said.

Assuring investors that the proceeds would be applied in line with the approved offer documents, Alamu said the company would maintain its focus on liquidity management and timely repayment obligations.

He explained that the successful issuance also coincided with the full redemption at maturity of the company’s Series 21 Commercial Paper, with an aggregate face value of N28.64 billion.

According to Johnvents, the repayment was completed in accordance with the terms of the instrument, underscoring its commitment to liquidity planning and meeting its obligations to investors.

In his address, the Group Head of Treasury, Samuel Olaifa, explained that the issuance was structured around the company’s seasonal working capital cycle, particularly the procurement, processing and shipment of cocoa and other agricultural commodities.

He explained further that the successful closure of the new issuance alongside the redemption of the previous commercial paper was a reflection of the company’s deliberate approach to managing funding requirements and repayment obligations.

“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,” Olaifa said.

The transaction, according to the company, followed an extensive investor engagement programme, which include management meetings and tours of selected Johnvents facilities.

This engagement provided opportunity for investors to assess its operations, processing capacity, inventory cycle and integrated value chain.

Speaking, the Acting Managing Director of Regius Capital, Kayode Omosebi, explained that the engagements provided investors with a clearer understanding of the relationship between the company’s operating assets, inventory cycle, cash generation and repayment capacity.

Omosebi emphasized that the oversubscription reflected institutional interest in well-structured credit opportunities and the importance of transparent engagement between companies and investors.

The statement disclosed that the transaction was led by United Capital Plc and Regius Capital Limited, alongside other joint issuing houses, advisers and transaction parties.

Johnvents’ expansion strategy was also aimed at strengthening Nigeria’s non-oil export base, creating employment opportunities and supporting businesses across its network of farmers, aggregators, transporters, distributors and service providers.

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Independent Newspapers Limited, registered on July 17, 2001 (RC No: 419927), commenced publication on October 1, 2001. With registered office at 15b, Daranijo Street, off Odusami street, off Wemco road, Ogba, Ikeja