Zeenab Foods Ltd Announces Redemption Of Its N1.6bn Series 1 Commercial Paper Issuance

Folalumi Alaran in Abuja

Zeenab Foods Limited has announced the successful redemption and repayment to all subscribers of its N1.6bn Series 1 (Tranche A) Commercial Paper issuance under the N20bn Commercial Paper Programme approved by FMDQ Securities Exchange Limited.

The Series 1 Tranche A, Commercial Paper issued on August 1, 2024, through the FMDQ Securities Exchange, matured and was fully redeemed on September 30, 2024.

The issuance is sponsored by Pathway Advisors Limited and was largely subscribed to by institutional investors.

The Company expresses its gratitude to the market for the support and confidence shown in its brand and operations.

Dr. Ayemere O. Victor, Managing Director and CEO of Zeenab Foods Limited, commented on the successful CP redemption, stating, “We greatly appreciate the support and confidence of the market in our brand and are pleased to have fully redeemed and repaid all subscribers to our first Commercial Paper issuance.”

He added, “This redemption reflects the Company’s credibility, business excellence, and dedication to maintaining trust within Nigeria’s Debt Capital Market.”

Dr. Victor also expressed gratitude to Mr. Adekunle Alade (FCA), CEO/Managing Director of Pathway Advisors Limited, the Financial Adviser and Lead Arranger, for the efforts in ensuring the successful issuance. Also, as well as the institutional investors for their support.