Eunisell redeems N4bn commercial paper

Eunisell Limited has announced the successful redemption of its N4 billion commercial paper series II issuance programme.

In 2021, Eunisell registered a N10bn commercial paper Issuance programme with FMDQ series I, which saw Eunisell raise N3.5 billion from the capital market, has since been repaid at maturity.

Suffice it to say that the series I issuance witnessed a very strong investor rally with an oversubscription of 20 percent, demonstrating investors’ confidence in the company’s business model and its management team.

Similarly, the series II issuance, which was launched at N4bn in mid-2022, was also oversubscribed by 25 percent.

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Eunisell provides speciality chemical solutions across a wide range of industrial users, food and beverage, can manufacturing, oil and gas, beauty and personal care, hygiene among others.

In his statement, Chika Ikenga, Eunisell’s group managing director, thanked FMDQ, while acknowledging the strong trust and support the company has received from its numerous customers over the years and “appreciating the market for a resounding vote of confidence in the company’s sustained growth and performance in the various business lines.”