An indigenous agribusiness firm, Johnvents Industries Limited plans to raise N30 billion to expand its operations and boost agricultural businesses in Nigeria.
Johnvents Industries plans to issue commercial papers (CPs) up to the value of N30 billion. As part of arrangements for the issuance, Johnvents Industries has registered the N30 billion CP issuance programme at the FMDQ Securities Exchange.
The registration of the CP programme provides Johnvents Industries the opportunity to raise short-term finance from the Nigerian debt markets within the programme limit.
Johnvents Industries Group engages in provision of modern information and communication tools, macro-loans, and farm inputs, such as seedlings and fertilisers, to support farmers and finance their businesses in Nigeria. The group includes three subsidiaries – Johnvents Procurements, Johnvents Cocoa Factory and Johnvents AgriTrade.
FMDQ Securities Exchange confirmed the registration noting that access to capital remains a top priority for corporates as capital is required to fund business expenditure, expansion aspirations and meet debt obligations.
FMDQ pointed out that the debt markets fulfil critical funding requirements by availing competitive financing to corporates and governments.
“As Nigeria’s largest securities exchange by market turnover, FMDQ Exchange will continue to provide a liquid, transparent and efficient market geared towards supporting the aspirations of corporates, such as Johnvents Industries, to unlock the required capital to bridge the funding gap in Nigeria’s agriculture sector” FMDQ stated.
