Fidelis David in Akure
An indigenous agribusiness and manufacturing group, Johnvents Industries Restricted, has redeemed its collection 4 industrial papers (CP) obligation totaling N3.68 billion.
The Group Managing Director of Johnvents Industries Restricted, Mr. John Alamu, disclosed this yesterday whereas talking in Akure, the Ondo State’s capital.
Alamu mentioned that the CP was issued on Could 17, 2023 at a yield of 18.5 per cent, indicative of the market’s recognition of Johnvents Industries’ sturdy efficiency and future potential.
Alamu mentioned: “The compensation marks one other milestone in Johnvent’s dedication to monetary stability and investor confidence pressured that the Sequence 4 Business Paper, with a face worth of N3.68 billion and was instrumental in bolstering Johnvents Industries’ working capital capabilities, enabling the corporate to increase its operations and meet the rising demand for high-quality agro merchandise.
He expressed his gratitude to the corporate’s traders and stakeholders for his or her assist, saying that “the profitable compensation of our Sequence 4 Business Paper symbolises our dedication to monetary accountability and sustainable progress. We lengthen our heartfelt appreciation to our traders for his or her belief and confidence in Johnvents Industries.
“Along with the compensation of the Sequence 4 CP, Johnvents Industries is gearing up for the redemption of its Sequence 5 Business Paper on February 27, 2024. The Sequence 5 CP, issued in August 2023 at a face worth of N787.2 million and a yield of 15.75 per cent, has served its meant goal of fortifying the corporate’s working capital reserves.
“We stay devoted to sustaining the best monetary transparency and accountability requirements. The upcoming redemption of Sequence 5 Business Paper displays our monetary prudence and positions us for sustained success within the vibrant cocoa processing trade.
“With a powerful monitor file of excellence and a dedication to high quality, Johnvents Industries reaffirms its place as a trailblazer in Nigeria’s cocoa processing sector. The profitable compensation of the Sequence 4 Business Papers underscores the corporate’s resilience and reinforces investor confidence in its prospects.”
