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August 7, 2026|02:30

Pathway Advisors Opens N25bn Series 3 CP Issuance for Zeenab Foods

Food & Nutrition

Pathway Advisors Opens N25bn Series 3 CP Issuance for Zeenab Foods

This Day about 3 hours 2 mins read

Oriarehu Bonny

In a fresh boost for Nigeria’s corporate debt capital market, Pathway Advisors Limited has announced the launch of Zeenab Foods Limited’s Series 3 Commercial Paper (CP) issuance of up to N25 billion. The offer, now open to subscription, is issued under the company’s broader N50 billion Commercial Paper Programme.

According to transaction details, the subscription window opened on August 4, 2026, and is set to close on August 10, 2026, with issue and settlement scheduled for August 11, 2026, and maturity falling on August 10, 2027.

Proceeds from the N25 billion debt issuance will be deployed directly towards working capital financing to support Zeenab’s short-term funding requirements across its agro-processing and commodity trading operations.

Zeenab Foods, established in 2011, plays a notable role in Nigeria’s agro-value chain, operating across three core segments: milling of paddy rice, export of processed and packaged agro-commodities, and food supply contracts with international donor agencies, including the United Nations World Food Programme.

Its footprint spans processing facilities in the Federal Capital Territory (Abuja) and Kano State, with an export liaison network extending to China, through offices in Changsha, Guangzhou and Shanghai, and to the Middle East, via a hub in Dubai.

Pathway Advisors, acting as Lead Arranger and Issuing House, has structured the Series 3 issuance as follows: The offer is priced on a fixed-price basis, with minimum participation pegged at ₦5 million and integer multiples of N1,000 thereafter.

Highlighting the creditworthiness of the issuer, leading rating agencies have assigned investment-grade ratings to Zeenab Foods: Agusto & Co.: Short-Term A1, Long-Term A- DataPro Limited: Short-Term A1, Long-Term A+

The company has built a consistent repayment history under both its former ₦20 billion programme and the current N50 billion programme, having redeemed successive tranches across Series 1 through 4 since 2024, with every obligation settled ahead of its due date, a track record underscoring the strength of its cash flow and investor confidence in the paper.

This article was sourced from an external publication.

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