Sunbeth global concepts raises N165bn as commercial paper, sees 65% oversubscription

Sunbeth Global Concepts Limited has announced the successful completion of its Series 1, 2, and 3 Commercial Paper (CP) issuances, raising a total of ₦165.73 billion.

The issuance significantly exceeded the company’s initial ₦100 billion target, reflecting a 65% oversubscription and strong investor appetite for Nigeria’s agricultural export sector.

The offer, which opened on February 27 and closed on March 6, 2026, was structured across three tenors: 179 days, 270 days, and 364 days.

The notes were issued at discount rates ranging from approximately 19.0% to 19.3%, with implied yields between 21.0% and 23.5%.

According to the company, the proceeds will be primarily deployed to support the working capital requirements of its cocoa trading operations in Nigeria.

This funding will enhance Sunbeth’s capacity to source, finance, and export cocoa to international markets, further strengthening its footprint in the global commodity value chain.

Nzubechukwu Anisiobi, Chief Operating Officer of Sunbeth Global Concepts, described the investor response as a clear vote of confidence in the firm’s business model and long-term strategy.

“This milestone further strengthens our capacity to scale our trading operations and deepen our contribution to Africa’s agricultural export sector,” Anisiobi stated.

The company’s Chief Financial Officer, Adeyemi Aduwo, noted that the timing is critical as the West African cocoa market undergoes a significant transition.

He emphasized that the issuance provides the liquidity flexibility needed to align funding with trading cycles and manage market volatility through structured risk management.

Sunbeth Global Concepts signaled that its long-term strategy involves moving beyond trading into higher-value segments, such as cocoa processing.

The company, which maintains operations across Nigeria, Cameroon, and Ghana, intends to have the Commercial Papers quoted on the FMDQ or the Nigerian Exchange (NGX) to ensure transparency and liquidity for investors.