We are pleased to announce the successful and timely redemption of our ₦25.1 billion Series 1 Commercial Paper (CP), issued under our ₦200 billion Commercial Paper Programme.
We completed the redemption on the notes' maturity date of 4th September 2026, a statement to our strong liquidity position, financial discipline, and unwavering commitment to meeting our obligations to investors.
As one of Nigeria's leading agro-commodities sourcing and trading companies and a major contributor to the country's non-oil export sector, we secured regulatory approval in March 2026 to establish a ₦200 billion Commercial Paper Programme to support the continued growth of our agricultural export operations.
Following the launch of the programme, we successfully completed our Series 1, Series 2, and Series 3 issuances in March 2026. Together, the issuances attracted subscriptions worth ₦165.73 billion against an initial target of ₦100 billion. We ultimately accepted ₦150.4 billion across the three series, a clear demonstration of the confidence investors have in our business, strategy, and long-term growth prospects.
This latest redemption milestone reinforces our commitmentto maintaining the trust placed in us by investors and other stakeholders.
Reflecting on the achievement, our Chief Executive Officer, Olasunkanmi Owoyemi, said:
Meeting our Series 1 obligation in full and on schedule reflects the strength of our business fundamentals, prudent financial management and the confidence investors have placed in Sunbeth.
Credibility is earned through consistent performance, transparency and honouring our commitments. As we continue to scale our participation across the agricultural value chain, maintaining that discipline remains central to how we grow.
Our Chief Financial Officer, Adeyemi Aduwo, also noted:
The successful redemption of the Series 1 notes reflects the disciplined approach we take to capital and liquidity management. Our focus remains on deploying capital efficiently, maintaining strong financial controls and ensuring that our growth is supported by a funding structure that enables us to meet our obligations as they fall due.
Building a Stronger Agricultural Export Business
In less than a decade, we have grown into a significant player in Nigeria's agricultural export ecosystem. Since commencing operations in 2017, we have exported more than 200,000 metric tonnes of cocoa beans and 60,000 metric tonnes of cashew nuts to international markets, establishing ourselves among the country's leading commodity exporters.
Our impact extends beyond exports. We work directly withover 30,000 farmers and collaborate with more than 250 local buying agents across Nigeria, helping strengthen agricultural value chains and create shared economic value.
Over the years, we have also built strong relationships with global partners, including leading commodity and financial institutions such as Cargill, GCB Group, JB Cocoa, Touton, Macquarie, and StoneX.
Backed by Strong Credit Ratings and Market Transparency
Our commitment to sound corporate governance and financial discipline continues to be recognised by leading rating agencies.
We currently maintain investment-grade ratings across both short-term and long-term categories from DataPro, GCR, Agusto & Co., and Intelligence Africa. We hold an A2 short-term rating from all four agencies, alongside long-term ratings of A from DataPro, BBB+ from GCR, BBB from Agusto& Co., and BBB+ from Intelligence Africa, which also assigned a stable outlook.
Additionally, our Commercial Paper Programme is subject to the disclosure and reporting requirements of the FMDQ Securities Exchange, ensuring ongoing transparency and providing investors with continued visibility into our financial position and performance.
Looking Ahead
As we continue to expand our footprint across Nigeria and sub-Saharan Africa, our focus remains on strengthening procurement capacity, deepening international partnerships, and increasing participation in higher-value segments of the agricultural value chain.
The successful redemption of our Series 1 Commercial Paper is more than a financial milestone. It is a reflection of the discipline, credibility, and long-term vision that continue to guide our growth journey. As we look ahead, we remain committed to delivering sustainable value for our investors, partners, farmers, and communities while advancing the future of agricultural trade across Africa.
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