VFD Group N20bn Series Commercial Paper Closes Friday

By Aduragbemi Omiyale

The N20 billion Series 2 commercial paper issuance by VFD Group Plc is scheduled to close on Friday, September 4, 2026.

The exercise commenced on Friday, August 28, 2026, and it is offered in two tranches. Tranche A has a maturity of 270 days at a discounted rate of 18.5498 per cent and an implied yield of 21.5000 per cent, while Tranche B has a tenor of 364 days, with a discount rate of 19.0383 per cent and an implied yield of 23.5000 per cent.

Business Post reports that the minimum subscription is N5 million, with subsequent additions of N1 million.

Proceeds from the commercial paper sales would be used to support the company’s short-term working capital needs and funding requirements.

VFD Group is issuing the paper under its N50 billion Commercial Paper Issuance Programme.

VFD Group is a proprietary investment company with a diversified portfolio spanning financial services, capital markets, technology, real estate, hospitality, media and entertainment, infrastructure, and energy.

The organisation adopts a sector-agnostic investment approach, identifying and investing in viable opportunities across key sectors of the economy.

It continues to deliver strong financial performance. For the six-month period ended June 30, 2026, gross earnings increased by approximately 30 per cent year-on-year to N53.7 billion, while Profit Before Tax rose by 98 per cent to N12.0 billion. Profit After Tax more than doubled to N10.1 billion from N5.0 billion in the corresponding period of 2025.

VFD Group’s credit profile was further strengthened following DataPro’s upgrade of its long-term credit rating from A+ to AA-, with a Stable Outlook, while maintaining its A1 short-term rating. The ratings reflect its experienced management, diversified earnings base, and strong capitalisation.