A foremost indigenous agribusiness and manufacturing group, Johnvents Industries Limited has disclosed the repayment of its Series 4 Commercial Paper (CP) issued on May 17, 2023.
The Group Managing Director of Johnvents Industries Limited, Mr. John Alamu, who disclosed this said the repayment marks another milestone in Johnvent’s commitment to financial stability and investor confidence.
According to Alamu, the Series 4 Commercial Paper, which has a face value of N3.68b, was instrumental in bolstering Johnvents Industries’ working capital capabilities, enabling the company to expand its operations and meet the growing demand for high-quality agro products.
He said the CP was issued at a yield of 18.5 percent, indicative of the market’s recognition of Johnvents Industries’ strong performance and future potential.
The GMD of the foremost cocoa processing company expressed appreciation to the company’s investors and stakeholders for their support, saying the feat was achieved through their commitment.
He said “The successful repayment of our Series 4 Commercial Paper symbolizes our commitment to financial responsibility and sustainable growth.
“We extend our heartfelt appreciation to our investors for their trust and confidence in Johnvents Industries.”
He however, disclosed that “in addition to the repayment of the Series 4 CP, Johnvents Industries is gearing up for the redemption of its Series 5 Commercial Paper on February 27, 2024.
“The Series 5 CP, issued in August 2023 at a face value of N787.2m and a yield of 15.75%, has served its intended purpose of fortifying the company’s working capital reserves.
“We remain dedicated to maintaining the highest financial transparency and accountability standards,” added John Alamu.
“The upcoming redemption of Series 5 Commercial Paper reflects our financial prudence and positions us for sustained success in the vibrant cocoa processing industry.”
“With a strong track record of excellence and a commitment to quality, Johnvents Industries reaffirms its position as a trailblazer in Nigeria’s cocoa processing sector.
“The successful repayment of the Series 4 Commercial Paper underscores the company’s resilience and reinforces investor confidence in its prospects.” Alamu said
Johnvents Group is an indigenous agribusiness and manufacturing group committed to driving sustainable growth across the entire agricultural value chain from production, processing, manufacturing and distribution.
The Company is at the intersection of everything agriculture, unlocking immense values and ensuring food supply and premium export value for Africa.
Johnvents operates a group structure, with six businesses committed to driving sustainable growth across the agricultural value chain, including production, processing, manufacturing and trade of commodity and food products in Nigeria and the rest of the world.