VFD Group launches N20 billion commercial paper issuance

VFD Group Plc has launched a N20 billion commercial paper issuance to support its short-term working capital and operational funding requirements. This issuance is a drawdown under the company’s existing N50 billion Commercial Paper Programme.

The offer opened on August 28, 2026, and is scheduled to close on September 4, 2026, with a settlement date of September 7, 2026. The issuance includes two series: Series 2(A) with a 270-day tenor and an implied yield of 21.50%, and Series 2(B) with a 364-day tenor and an implied yield of 23.50%.

VFD Group, an investment holding company with interests in financial services, technology, real estate, and energy, is utilizing this debt instrument to access liquidity. This move comes amid a high-interest-rate environment in Nigeria, where the Central Bank of Nigeria has maintained tight monetary policy to combat inflation, making traditional bank loans more expensive for corporations.