Norrenberger advisory reports N609bn H1 capital market transactions

Norrenberger Advisory Partners Limited (NAPL) says it advised on capital market transactions worth approximately N608.93 billion in the first half of 2026, highlighting what it described as sustained fundraising activity in Nigeria’s debt and equity markets despite a challenging macroeconomic environment.

The investment banking and financial advisory firm disclosed this in a statement, noting that it advised on, structured and participated in 20 capital market transactions during the six-month period. According to the firm, the deals comprised 18 debt capital market transactions valued at N540.76 billion and two equity transactions worth N68.17 billion.

The deals cut across sectors including energy and gas infrastructure, oil and gas services, manufacturing, agribusiness, financial services, fintech, insurance, consumer goods, building materials and diversified conglomerates, reflecting continued demand by corporates for capital market funding amid elevated borrowing costs in the banking sector.

“The first half of 2026 marked a particularly significant period for the firm. During this period, NAPL advised on, structured, and participated in 20 capital market transactions with an aggregate value of approximately N608.93 billion. These comprised 18 debt capital market transactions valued at N540.76 billion and two equity transactions amounting to N68.17 billion.

“The firm’s transactions cut across a broad range of industries, including energy and gas infrastructure, oil and gas services, manufacturing, agribusiness, financial services, fintech, insurance, consumer goods, building materials, and diversified conglomerates, reflecting its broad sector expertise and growing market relevance,” the statement read 

Several of the issuances attracted strong investor interest, with commercial paper and sukuk offerings recording oversubscriptions. Coleman Technical Industries Limited’s commercial paper recorded a 276 percent subscription, while Sycamore Integrated Solutions Limited and NGN Gram Limited achieved 225 percent and 200 percent subscriptions respectively. VFD Group Plc’s commercial paper was subscribed by 181 percent, while Payaza Africa Limited’s non-interest commercial paper attracted subscriptions of 166 percent.

The firm added that among the notable mandates during the period was NAPL’s role as lead issuing house on VFD Group Plc’s N50.67 billion rights issue, which was fully subscribed.

The performance comes at a time when Nigeria’s capital market has continued to play a growing role in corporate fundraising, with companies increasingly turning to commercial papers, bonds and equity issuances to diversify funding sources and reduce dependence on conventional bank loans.

Oladipo Olakunle-Jinadu, managing director of Norrenberger Advisory Partners Limited, said the firm’s focus remains on helping businesses access long-term capital while contributing to the deepening of Nigeria’s capital market.

Olakunle-Jinadu, who has more than a decade of investment banking experience, has worked on several debt and equity capital market transactions, including sovereign bond issuances and sukuk programmes. Before joining Norrenberger, he held investment banking roles at Chapel Hill Advisory Partners Limited and Greenwich Capital Limited.

“As Nigeria’s capital market continues to evolve, Oladipo remains focused on positioning Norrenberger Advisory Partners Limited as a trusted adviser to businesses seeking efficient access to capital while contributing to deeper, more sophisticated capital markets that support long-term economic growth,” the statement added