SKLD Integrated Services Limited (“SKLD” or “the Company”), a leading manufacturing and trading company operating across multiple sectors such as education, garment, IT and humanitarian aid, is pleased to announce the successful redemption of its series VIII Commercial Paper Issuance programme which was issued in February 2024, and matured in August 2024.
The 1.675 billion Naira commercial paper was redeemed in two tranches of maturity with the final ₦739 million paid to all subscribers on August 6, 2024. The program is jointly promoted by Afrinvest Capital Limited and Coronation Merchant Bank Limited and was largely subscribed to by investors in the Banking, Asset Management, Pension Fund Administration, and Insurance sectors in Nigeria.
In a statement, the company said it leveraged the successful Commercial Paper programme to meet its strategic growth objectives for the current financial year, affirming its commitment to harnessing the Nigerian capital market as a reliable funding source. This is enabled SKLD to increase its footprint in the education sector, expand its offerings for office and IT supplies and invest in process improvement for its garment manufacturing business.
Commenting on the programme, Mr. Tayo Osiyemi, an Executive Director at SKLD Integrated Services said “Our successful redemption of the series VIII commercial paper reaffirms to the investment community’s SKLD growth potential and economic resilience despite the low market liquidity and challenging macroeconomic conditions experienced in the first half of 2024. We remain committed to strengthening our market-leading position and fostering our relationship within the capital markets as a responsible and dynamic issuer. Our company is resolute about maintaining good credit standing through timely payment of our financial commitments.”
Afrinvest Capital Limited acted as Lead Arranger & Dealer whilst Coronation Merchant Bank and Kairos Capital Limited were Joint Arrangers to facilitate the commercial paper program.
SKLD expresses gratitude for the steadfast support from stakeholders who contributed to the success of this Commercial Paper programme.
About SKLD
SKLD Integrated Services is a 24-year-old manufacturing and trading company serving diverse business sectors in Nigeria. Renowned for its market leadership in the educational supplies category serving over 1000 top schools in Nigeria, SKLD has since expanded into distribution of technology products and supply of humanitarian relief items. With seven (7) retail outlets strategically located across Lagos, Port Harcourt and Abuja, in Nigeria and an e-commerce store receiving over 20,000 visitors monthly, the company also boasts a growing customer base across various market segments, a local garment production factory with over 120 employees and 8000 garments output per month and an extensive inventory of school, office, and lifestyle products, positioning it for continued growth in the years ahead.
For more information, please contact Tayo Osiyemi, Executive Director at SKLD at +234 813 431 3219 or email [email protected]
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