Cocoa processing company, Johnvents Industries, has announced the repayment of its Series 4 Commercial Paper issued in May 2023.
In a statement from the company on Wednesday, it indicated that the Series 4 Commercial Paper, had a face value of N3.68bn and was issued at a yield of 18.5 per cent.
Johnvents Industries said the CP “was instrumental in bolstering Johnvents Industries’ working capital capabilities, enabling the company to expand its operations and meet the growing demand for high-quality agro products”.
“With a strong track record of excellence and a commitment to quality, Johnvents Industries reaffirms its position as a trailblazer in Nigeria’s cocoa processing sector. The successful repayment of the Series 4 Commercial Paper underscores the company’s resilience and reinforces investor confidence in its prospects.”
The Group Managing Director of Johnvents Industries, John Alamu, expressed gratitude to the company’s investors and stakeholders for their support.
He noted, “The successful repayment of our Series 4 Commercial Paper symbolises our commitment to financial responsibility and sustainable growth. We extend our heartfelt appreciation to our investors for their trust and confidence in Johnvents Industries.”
Meanwhile, the firm declared that it was getting set for the redemption of its Series 5 Commercial Paper later this month.
The Series 5 CP, issued in August 2023 at a face value of N787.2m and a yield of 15.75 per cent, was also to support the company’s working capital reserves.
“We remain dedicated to maintaining the highest financial transparency and accountability standards,” added John Alamu, “The upcoming redemption of Series 5 Commercial Paper reflects our financial prudence and positions us for sustained success in the vibrant cocoa processing industry.”
Johnvents is a wholly indigenous-owned agribusiness committed to driving sustainable growth across the agricultural value chain from production, processing and distribution.
