Zylus Homes sustains investor confidence, redeems Series 1 commercial paper

Zylus Homes and Property Limited, a real estate development company, said it has redeemed its Series 1 commercial paper under its N10 billion issuance programme.

The company said the redemption represents another significant milestone in its financial journey and a strong commitment to building investor confidence.

It also demonstrates the company’s good credit quality and satisfactory capacity for timely payment of financial commitments.

The 270-day series 1 N0.520 billion issued in November 2023 on the FMDQ Securities Exchange Limited (FMDQ), matured and was redeemed in early August 2024.

Oluwatosin Olatujoye, founder and chief executive officer of Zylus Homes, said the feat represents a significant accomplishment for the company.

“It is with great satisfaction that we have met our financial obligation through the timely redemption of the N0.520 billion series 1 commercial paper,” he said.

Olatujoye described it as a testament to the Zylus brand’s credibility, exemplary business model, and steadfast commitment to sustaining investor confidence within the Nigerian Debt Capital market.

He commended the company’s board of directors led by Olumide Emmanuel, chairman, for their support as well as the company’s financial partners, Pathway Advisors Limited, Keystone Bank Limited, and all institutional investors for their trust in the company while reaffirming the commitment to be a reliable partner in the long term.

Sonekan Olasunkanmi, executive director at Zylus Homes, said the redemption has proven the company’s track record and consistent delivery of value.

Olasunkanmi said the successful execution of the commercial paper redemption will strategically position Zylus Homes globally as a credible and trustworthy brand, thereby supporting future capital raise in alignment with its growth trajectory.

Zylus Homes is a fast-growing organisation engaged in the development of residential properties which include maisonettes, semi-detached duplexes, and terraces as well as the development of service plots, all sited in choice locations along the Lekki Expressway in Lagos State.

The company also sells serviced plots of land in strategic locations in Lagos State, Ogun State, Oyo State, Enugu State, and Abuja. Since its inception, it has allocated more than 3,500 plots of land and delivered more than 700 houses with all its properties properly documented.