VFD redeems N4.24bn commercial paper

VFD Group Plc has announced the full redemption of its N4.24bn Series 4 Commercial Paper, issued on December 19, 2024, under its N20bn Commercial Paper Programme registered in 2022.

In a statement on Thursday, the Group said the redemption highlights its strong liquidity position and commitment to meeting its obligations to investors. The company added that the programme has consistently recorded oversubscriptions since its inception, reflecting sustained market confidence.

The redemption builds on the Group’s half-year 2025 performance, where it reported N41.17bn in gross earnings and a total asset base of N356.87bn.

Commenting on the development, the Group Managing Director/Chief Executive Officer of VFD Group, Nonso Okpala, said the successful completion of the Series 4 redemption demonstrates the company’s resilience and strategic focus.

“The market has been favourable for businesses that have leaned into it and are creating value for the Nigerian economy. Our redemption of this Series 4 issue validates that the market is serious about providing debt capital. The successful fulfilment of this obligation allows us to continue to create and unlock value for our shareholders and investors through our globalisation strategy,” he said.

Also speaking, the Group’s Executive Director for Finance and Investor Relations, Folajimi Adeleye, noted that the timely redemption was the result of disciplined liquidity management across the firm.

“Timely redemption of this commercial paper is the outcome of disciplined liquidity management across the firm. The programme has allowed us to address immediate operational needs while preserving capital strength for long-term initiatives. Series 4 continues that trajectory, positioning us well as we execute our growth strategy,” Adeleye stated.