Legend Internet repays N10bn Commercial Paper, reinforces market confidence

Legend Internet Plc has disclosed the full and timely repayment of its Series 1 Commercial Paper (CP) under its N10 billion multi-layered issuance programme, marking a key milestone in the company’s engagement with Nigeria’s debt capital market.

Legend Internet Plc operates as a digital infrastructure and broadband services provider, with a focus on fiber connectivity, enterprise solutions, and next-generation digital services designed to expand access and support economic inclusion across Nigeria.

The Commercial Paper programme forms part of Legend Internet Plc’s broader capital strategy aimed at supporting broadband infrastructure expansion, strengthening working capital efficiency, and accelerating investment in Nigeria’s digital connectivity ecosystem.

The successful repayment of its Commercial Paper further strengthens the company’s standing within the Nigerian debt capital market, particularly at a time when investor scrutiny of corporate credit quality remains elevated.

The repayment, completed on schedule and in full, underscores the company’s financial discipline and its continued commitment to maintaining strong investor relations in a tightening funding environment.

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The Series 1 issuance had earlier attracted significant demand, recording a 119.7 percent oversubscription at launch, reflecting strong investor appetite and confidence in the company’s credit profile, operational performance, and long-term expansion strategy.

Speaking on the repayment, Aisha Abdulaziz, chief executive officer of Legend Internet Plc said the outcome reinforces the company’s credibility and operational strength.

“The successful repayment of our Series 1 Commercial Paper demonstrates Legend Internet’s unwavering commitment to meeting its financial obligations and maintaining the trust of the investment community. This milestone further reinforces the strength of our business model, operational discipline, and long-term vision for building resilient digital infrastructure across Nigeria,” she said.

She added that investor confidence has remained central to the company’s funding strategy.

“We remain deeply appreciative of the confidence shown by our investors, advisers, issuing houses, and market partners during the issuance and throughout the tenor of the programme. Their support continues to position Legend Internet for sustainable growth and expansion,” Abdulaziz added.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.