Robust International Commodities Limited Redeems N4.026 Billion Series 1 Commercial Paper Under its N20 Billion Commercial Paper Programme

Robust International Commodities Limited Redeems N4.026 Billion Series 1 Commercial Paper Under its N20 Billion Commercial Paper Programme

Lagos, Nigeria – 9th March, 2023

Robust International Commodities Limited (“Robust” or “the Company”) a leading agriculture commodity processing and trading company focused on high margin agricultural commodities such as rice, cashew nuts, sesame seeds, gum arabic, ginger and grains, has announced the full repayment of its Series 1 Commercial Paper (CP) under its N20 billion Commercial Paper Programme.

The Company promptly fulfilled its obligation on the N4.026 billion Series 1 CP issued for 180 days, which matured on January 23, 2023, and informed FMDQ Exchange Limited (“the Exchange”) of the payment in line with the rules of the Exchange.

Robust accessed the market for the first-time last year, in a bid to diversify its funding structure and the proceeds from the issuance were utilised for the working capital requirement of the Company. The issuance was arranged by Coronation Merchant Bank and was subscribed to by a wide range of institutional investors.

Mr. Vishanth Narayan, Executive Director of Robust, stated that “The repayment of our Series 1 issue at its maturity attests to the confidence reposed in the company and we would like to thank the investor community for supporting the transaction. Their trust represents a strong mark of confidence in our financial performance, business model and growth strategy. We would like to reaffirm our commitment to being a solid and reliable partner who can be relied on for a long term.”

Commenting on the transaction, Banjo Adegbohungbe MD/CEO of Coronation Merchant Bank stated that; “We are pleased to have successfully facilitated the Robust N4.026 billion Series 1 Commercial Paper. This issuance underscores the critical role of the Nigerian financial market in providing funding to the private sector for sustainable development. Coronation Merchant Bank remains committed to supporting Robust’s continued success.”

About Coronation Merchant Bank

Coronation Merchant Bank was established in 2015 to provide wholesale banking to a long-underserved market. The Bank offers Corporate & Investment Banking, Private Banking/Wealth Management and Global Markets/Treasury Services to its niche clientele. It is the first and only merchant bank in Nigeria with an international risk rating (B- from Fitch). It presently has two branches in Abuja and Port Harcourt with its Head Office in Lagos, Nigeria.

The Bank has been the recipient of numerous international and national awards including Best Investment Bank in Nigeria by Global Finance, Best Investment Bank in Nigeria by World Finance, Best Investment Bank in Nigeria by Global Banking & Finance Review, Best Investment Bank by Global Business Outlook, Best Investment Bank in Nigeria by International Finance and Best Investment Bank in Nigeria at the BusinessDay Banking and Financial Institution Awards.


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