Sunbeth Global Concepts Limited has introduced plans to lift as much as N150 billion underneath its accepted N500 billion Commercial Paper Issuance Programme to finance cocoa procurement for the brand new 2026/27 cocoa season.
The proceeds will fund short-term working capital necessities for cocoa purchases at origin, supporting the corporate’s worldwide buying and selling commitments and the procurement of cocoa stock for its 70,000-metric-tonne-per-annum processing facility, scheduled to begin operations in March 2027.
With the brand new cocoa season underway, the proposed issuance will assist well timed purchases and the supply of stock for export and processing necessities.
Sunbeth has secured approval for its N500 billion Commercial Paper Issuance Programme, offering a framework for accessing the home debt capital market to assist its working capital necessities. The firm has additionally demonstrated reimbursement self-discipline via the well timed redemption of its debut Commercial Paper collection.
The proposed issuance will comprise three collection with tenors of 180, 270 and 364 days. The Commercial Paper can be issued in tranches, with the timing and measurement of every tranche aligned with cocoa procurement necessities and prevailing market circumstances.
Sunbeth, in a press release, mentioned it will preserve national-scale credit score rankings from established African score businesses, with long-term rankings starting from BBB to BBB+ and a short-term score of A2. Chapel Hill Denham Advisory Limited is performing as Lead Arranger for the transaction.
