SG Holdings Limited, a leading downstream oil and gas company and a rising force in international shipping, has successfully redeemed its oversubscribed Commercial Paper (CP) issuance. Whilst the company initially sought to raise up to ₦30 billion, strong investor demand pushed total subscriptions to ₦34.59 billion across two series that matured in September and December 2025. The entire amount was fully redeemed at maturity, highlighting SG Holdings’ solid financial position and commitment to its investors.
Launched in March 2025, the CP programme attracted a broad range of institutional investors, including Asset Managers, Pension Fund Administrators, and other Qualified Institutional Investors. The notes were competitively priced in the 24–26% and 26–28% ranges, reflecting strong investor appetite and the company’s robust credit profile.
SG Holdings’ strong ratings A1+ (GCR) and A+ (Agusto & Co) contributed to the success of the CP programme. These two ratings from two different rating agencies are one of the strongest in the short term and not many players in SG holdings business category boast of this credit rating achievement.
The CP proceeds provided a cost-effective source of short-term financing, strengthening the company’s liquidity and cash flow management. The oversubscription of the CP programme reflects SG Holdings’ strong credibility and standing in the capital market. The company’s CEO, Mr. Deji Matthew Somoye, expressed satisfaction with the successful repayment of the ₦34.59 billion across two tranches as scheduled, noting that the redemption of its maiden commercial paper programme would further strengthen investor confidence in the company’s financial performance, leadership, and creditworthiness.
SG Holdings Limited is an African multinational corporation headquartered in Lagos, Nigeria, with branches in Abuja, Port Harcourt, Accra (Ghana), Abidjan (Ivory Coast), and London (UK). The company operates across multiple sectors, including energy logistics, shipping, trading, infrastructure, retail fuel services, aviation fuel supply, liquefied petroleum gas (LPG), and intra-African energy trade.
The group has made significant investments in Nigeria’s downstream oil and gas sector, including an ultra-modern tank farm, jetty, gas plant, and a network of retail filling stations. SG Holdings has also established a strong presence in international shipping and is today the largest indigenous private owner of ocean-going tankers in West Africa. Its fleet currently consists of seven vessels, including five Suezmax tankers and two Medium Range (MR) tankers—MT Stallion, MT Adebola Adeline, MT Moteleola, MT Adebomi, MT Ijemo, MT Montagu, and MT Westmore. The company’s London-based shipping office manages operations in partnership with leading global firms such as Clarkson Shipping (UK), Teekay Marine (Canada), Navig8 Shipping, (UK) Ocean EXL (UAE), and Union Maritime.(UK). The company plans to increase the fleet in 2026 with additional three vessels.
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