Nigeria firms ARCO Worldwide Services and Pivot Integrated Energy raise over N3.8bn via commercial papers

ARCO Worldwide Services Limited listed a total of N2.81 billion in commercial paper on the FMDQ Securities Exchange, split into a N780 million Tranche A and a N2.03 billion Tranche B. The issuance is intended to strengthen working capital and maintain liquidity amid a volatile macro‑economic environment, while providing the company with greater transparency and institutional validation.

Pivot Integrated Energy Services Limited opened subscription for the first tranche of its commercial‑paper programme, allowing investors to buy up to N100 billion of paper that will be issued in three tenors with discount rates ranging from 17.5 % to 19.69 %. Proceeds are earmarked for working‑capital needs supporting the import, storage, distribution and supply of refined petroleum products across Nigeria and selected African markets. The offering is being managed by Pathway Advisors Limited, which serves as lead arranger and issuing house.

Both issuances illustrate a growing reliance on short‑term debt markets among large Nigerian firms seeking flexible financing alternatives to traditional bank loans.