Cedrus Capital Limited has successfully arranged the oversubscribed N3 billion Series 1 commercial paper (CP) issuance for RusselSmith Nigeria Limited, which is part of its N10 billion CP programme.

The achievement is a testament to Cedrus’ expertise in delivering innovative financing solutions and fostering investor confidence while showcasing its ability to connect businesses with the capital needed for growth and sustainability, the company said.

Chief Executive Officer of RusselSmith, Kayode Adeleke, celebrated the significance of this milestone, stating: “The approval of our commercial paper programme by the FMDQ represents an exciting achievement for RusselSmith. We are grateful for the FMDQ’s confidence in our organisation and look forward to harnessing this opportunity to enhance our operations and contribute to the growth of the Nigerian capital market.”

The over-subscription reflects Cedrus’ strong market knowledge and investor relationships, as noted by its Chief Executive Officer, Olubusayo Adeniyi.

“This clearly shows the market’s trust in the company’s strategic vision and operational capacity. We are glad about this milestone as it not only secures the short-term working capital needs for RusselSmith but also sets the stage for further engagements within the broader ₦10 billion programme.

“Cedrus’ involvement has been instrumental in ensuring the CP notes were listed on the FMDQ Securities Exchange, enhancing transparency and liquidity for investors,” Adeniji said.

This collaboration between Cedrus and RusselSmith exemplifies the benefits of strategic partnerships in driving innovation and sustainability in the energy sector, he said.