Moneda Investment Limited has successfully closed its N5 billion Series 1 Commercial Paper(CP) issuance at N6 billion, achieving 120 per cent subscription under its N30 billion CP programme.
The successful close represents the first issuance under the programme and marks a significant milestone in Moneda’s efforts to deepen its access to institutional capital and strengthen its capacity to finance opportunities across African natural resource value chains.
The transaction attracted demand above the initial N5 billion target, resulting in a N6 billion close.
Commenting, Group Chief Executive Officer, Moneda, Ejike Egbuagu, said:
“It is a big deal to put yourself out there in the capital markets and to be accepted, understood and welcomed by the market. The business we do is unconventional, financing and investing with an African focus, so the fact that the market understands and trusts what we are building means a great deal to us.”
Moneda continues to expand its activities across African natural resource value chains, using alternative credit and operational support to enable businesses to grow, execute and capture more value locally.
“Our goal is to ensure the success of local content across Africa by supporting the SMEs that localise major investments. We will first deploy the capital we have raised properly, demonstrate how it has been put to work, and then return to the market for more,” Ejike added:
Also speaking, Emeka, Chief Financial Officer, Moneda, Emeka Anazodo, said:
“This is a significant step in our history. Prior to now, our funding was largely within a close network, but with this programme we are approaching the market directly and becoming accountable to a broader investing public.”
“We structured the programme to give investors comfort, particularly as this is our first issuance. Being oversubscribed by about 20 per cent is a strong indication of the confidence investors have placed in Moneda.”
Similarly, Group Managing Director, MCL, Ebi Enaholo, said:
“The transaction reflects the resilience of the team throughout the process, from regulatory filing and approval through to marketing. Having completed the first series at N6 billion, we believe there is a strong foundation for subsequent issuances under the programme.” The successful Series 1 close forms part of Moneda’s broader strategy to mobilise capital toward businesses capable of creating greater value from Africa’s natural resources.
The Series 1 issuance also reflects Moneda’s continued engagement with Nigeria’s capital markets as the firm expands its funding base and strengthens its ability to support businesses operating across critical sectors and value chains.