Pathway Advisors Leads Oversubscribed N6.1bn Veritasi Homes Commercial Paper

Pathway Advisors Limited, one of Nigeria’s foremost issuing houses and financial advisory firms, has once again demonstrated its market leadership with the successful completion of a N6.135 billion Series 1 Commercial Paper (CP) issuance for Veritasi Homes & Properties Plc.

The transaction, which formed part of Veritasi’s newly established N20 billion CP programme, was oversubscribed—underscoring strong investor confidence in the company’s financial performance and governance.

Originally set at N5 billion, the offer was expanded to N6.135 billion following robust investor demand.

The 270-day tenor issuance attracted a diverse range of institutional investors, including asset managers and insurance firms, signalling sustained trust in Veritasi’s credit profile and market position.

This new CP programme replaces the previous N20 billion programme registered in 2022, under which Veritasi successfully raised N15 billion.

All obligations under the earlier programme were fully redeemed at maturity, further enhancing the company’s reputation for financial discipline and reliability.

Commenting on the success, Managing Director/CEO of Veritasi Homes & Properties Plc, Mr. Nola Adetola, said the oversubscription validates the company’s resilient business model and strong brand reputation.

He said, “The success of this issuance is a testament to the strength of our diversified business model, market reputation, and creditworthiness,” Adetola said.

“We sincerely appreciate the continued trust of institutional investors in Veritasi Homes. The proceeds will be strategically deployed to finance working capital needs, ensuring operational efficiency and sustainable growth in the real estate industry.”

He also commended Pathway Advisors Limited for its expertise and pivotal role in structuring and executing the transaction efficiently.

In his remarks, Mr. Adekunle Alade, Founder/CEO of Pathway Advisors Limited, lauded Veritasi’s consistency and transparency, describing the success as a reflection of investor confidence built over time.