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Julius Berger to source for N30bn via Commercial Paper

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CSR Award 2024: Lagos School gives Julius Berger ‘Heartfelt Appreciation Award’

Adebayo Obajemu

 

Julius Berger Nigeria Plc has notified the investing public that it has established a ₦30 billion Commercial Paper Issuance Programme approved by the FMDQ Securities Exchange Limited, under which the Company may from time-to time issue commercial papers, denominated in Nigerian Naira, in separate series or tranches subject to compliance with all relevant laws and in accordance with the terms and conditions contained in the CP Programme Memorandum and Applicable Pricing Supplement.

The establishment of the CP Programme will enhance Julius Berger’s long-term strategy to strengthen its competitive advantage in the construction sector, and each issuance under the CP Programme will support the Company’s short-term working capital and funding requirements. The repayment of all obligations under each series or tranche of Notes issued under the CP Programme will be funded from the Company’s cash flows or such other means as may be indicated in the Applicable Pricing Supplement.

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Stanbic IBTC Capital Limited acted as the lead arranger while FCMB Capital Markets Limited acted as the joint arranger in connection with the establishment of the CP Programme. Banwo & Ighodalo also acted as Solicitors to the Transaction.

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