Business News

VFD Group Redeems N4.2bn Series 1 Commercial Paper

By Aduragbemi Omiyale

The N4.2 billion borrowed by VFD Group from domestic investors during the Series 1 commercial paper sales has been repaid by the proprietary investment company.

This demonstrates VFD Group’s commitment to maintaining a strong financial position, fostering investor confidence, and meeting its obligations on time.

Some months ago, the firm approached the Nigerian capital market to source funds under its N20 billion commercial paper programme.

Several investors purchased the corporate debt instrument because of their faith in the company to redeem the commercial paper at maturity.

VFD Group and Kairos Capital Limited, the lead issuing house, collaborated to ensure that the issuance and redemption processes ran smoothly.

The Group Managing Director/CEO of VFD Group, Mr Nonso Okpala, thanked investors, stakeholders, and the entire team for their unwavering support.

He emphasised the importance of the investment community’s support for VFD’s business model and how they will continue to ensure the Group delivers value to all stakeholders.

“This redemption is a significant achievement for VFD Group and marks another crucial step in our financial stability and growth journey.

“Our diverse portfolio has enabled us to adapt and thrive in the face of volatile market conditions, and we remain committed to unlocking value for all of our stakeholders,” Mr Okpala said.

With an unwavering focus on innovation and excellence, VFD Group has consistently demonstrated resilience in an ever-changing market landscape, positioning itself as a leading player in Nigeria’s investment sphere.

VFD Group has a diverse portfolio in banking, non-banking financial institutions, market infrastructure, technology, real estate and hospitality, media, entertainment, and energy.

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