Zeenab Foods Limited has raised ₦10.22 billion through its Series 4 Commercial Paper (CP) issuance, marking another significant milestone in the company’s capital market activities. The issuance, which was oversubscribed, reflects continued investor confidence in the food processing company’s operations and credit profile.
ALSO READ: Midea Hosts 2025 Dealers’ Seminar in Lagos, Launches Midea Club and Next-Gen Inverter Chest Freezer
The Series 4 issuance had an original target of ₦10 billion but closed at ₦10.22 billion following strong demand from a diverse pool of institutional investors, including pension funds, asset managers, and insurance companies. The commercial paper has a tenor of 270 days and carries a yield of 26.50%.
Proceeds from the issuance will be deployed to support the company’s working capital requirements. The move is in line with Zeenab Foods’ strategic focus on strengthening its operational capacity and expanding its footprint in the Nigerian food production sector.
ALSO READ: Monica Musonda: Redesigning Africa’s Food Economy Through Local Innovation
This development follows the successful maturity and early redemption of previous commercial paper tranches, Series 1 Tranche B and Series 2 Tranches A and B, which had raised a total of ₦3.43 billion and matured in March and April 2025.
The success of the Series 4 issuance underscores Zeenab Foods’ continued access to short-term funding markets and its ability to attract capital under competitive terms amid broader economic pressures.
