Cocoa firm unveils repayment of N3.68b Series 4 Commercial Paper operations

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Towards the expansion of its operations, to meet the growing demand for high-quality agro products in the country, a cocoa processing company – Johnvents Industries Limited has unveiled the successful repayment of its Series 4 Commercial Paper with a face value of N3.68b to bolster its working capital capacities.

The GMD of the firm, John Alamu, in a statement in Akure, said the Commercial Paper, which was issued at a yield of 18.5 per cent, was indicative of the market’s recognition of the company strong performance and future potential.

Alamu, who expressed gratitude to the company’s investors and stakeholders for their support said: “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.

“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. “We are committed to driving sustainable growth across the entire agricultural value chain from production, processing, manufacturing and distribution. The company is at the intersection of everything agriculture, unlocking immense values and ensuring food supply and premium export value for Africa.

 

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