Johnvents repays N9.2bn Commercial Paper

A leading indigenous agribusiness and cocoa processing firm in Africa, Johnvents Industries Limited, announced on Thursday that it has successfully repaid its N9.2 billion Series 7 & 8 Commercial Paper, further solidifying its reputation as a reliable and trusted issuer in the Debt Capital Market.

The company, which has been rated BBB+ by both GCR and Datapro, continues to demonstrate financial resilience and robust performance in Nigeria’s agribusiness sector.

Speaking on the development, the Group Managing Director of Johnvents Group, Mr. John Alamu, stated that since the launch of the company’s commercial paper programme in 2022, Johnvents Industries has redeemed a total of N24.5 billion, showcasing its strong financial performance and sound business practices.

He added that the redemption of the Series 7 & 8 Commercial Paper, issued to support the company’s growth and liquidity, underscores its commitment to meeting financial obligations promptly.

According to him, the company has leveraged its deep expertise in agribusiness, particularly cocoa processing, over the past three years to drive significant growth and establish itself as a key player in the sector.

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He noted that Johnvents’ success in the commercial paper market, with a total redemption of N24.5 billion, is a testament to its financial discipline and growing influence in Nigeria’s agricultural value chain.

Commenting on the successful repayment, Group Managing Director Alamu said: “We are delighted to announce the timely repayment of our Series 7 and 8 Commercial Paper. This success reflects Johnvents’ unwavering commitment to financial prudence and reinforces the confidence placed in our organization by the investing public.”

“We are immensely grateful to our stakeholders for their continued trust and support. Johnvents remains steadfast in delivering sustainable value, maintaining the highest standards of corporate governance, and contributing to the growth of Nigeria’s agribusiness landscape.”

Johnvents Industries is currently positioned at the forefront of Nigeria’s agricultural sector, focusing on creating long-term value through sustainable practices, local community development, and innovative solutions.

With ongoing investments in technology and infrastructure, the company is committed to expanding its reach in the global agricultural industry while adhering to its mission of creating sustainable value across the ecosystem.