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By Zika Bobby
Sunbeth Global Concepts Limited, an agro-commodities sourcing and trading company, has redeemed its N25.1 billion Series 1 Commercial Paper (CP), reinforcing its liquidity position and commitment to meeting obligations to investors.
The company completed the redemption on the notes’ maturity date of September 4, 2026, under its N200 billion Commercial Paper Programme.
The development, according to Sunbeth, demonstrates its financial discipline and ability to manage liquidity while supporting the continued expansion of its agricultural export operations. Sunbeth, a cocoa exporter, secured regulatory approval in March 2026 for the N200 billion CP Programme.
Under the programme, the company issued Series 1, Series 2 and Series 3 papers in March, attracting total subscriptions of N165.73 billion against an initial target of N100 billion.
Sunbeth accepted N150.4 billion across the three series, reflecting what it described as strong investor appetite for its securities.
Speaking on the redemption, the company’s Chief Executive Officer, Olasunkanmi Owoyemi, said fulfilling the Series 1 obligation on schedule reflected the strength of its business fundamentals and prudent financial management. “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,” he said.
The Chief Financial Officer, Adeyemi Aduwo, said the successful redemption demonstrated the company’s disciplined approach 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,” Aduwo said.
Within less than 10 years of operation, Sunbeth said it had exported more than 200,000 metric tonnes of cocoa beans and 60,000 metric tonnes of cashew nuts to international markets.
The company works directly with more than 30,000 farmers and has partnerships with over 250 local buying agents across the country.
Its international strategic partners include Cargill, GCB Group, JB Cocoa, Touton, Macquarie and StoneX.
Sunbeth said it currently holds investment-grade ratings across short- and long-term categories from DataPro, GCR, Agusto & Co. and Intelligence Africa.
It has an A2 short-term rating from all four agencies, while its long-term ratings are A from DataPro, BBB+ from GCR, BBB from Agusto & Co. and BBB+ from Intelligence Africa, with Intelligence Africa assigning a stable outlook.
The company’s Commercial Paper Programme is also subject to the disclosure and reporting requirements of FMDQ Securities Exchange, providing investors and the wider market with regular information on its financial position and performance.
It said it would continue to strengthen its procurement capacity, deepen international partnerships and expand into higher-value segments of the agricultural value chain in Nigeria and across sub-Saharan Africa.
