SG Holdings is delighted to announce that the recent Commercial Paper (CP) issuance, series 3 and 4 of N75billion naira has been oversubscribed by 133%. This is a testament to the strong confidence investors in the company’s financial strength and strategic vision.
The company has earlier planned to raise N75bn and this was over subscribed to the tune of over N100bn. This achievement is further underscored by the recent dual credit rating upgrades from GCR and Agusto & Co Ratings with both agencies affirming short term issuer Ratings of A1+ and A1 respectively with a Stable Outlook.
These ratings reflect the company’s robust financial position, strong corporate governance, prudent and robust risk management, and growing business profile. As one of the largest shipping companies in Sub-Saharan Africa, with eight massive vessels and huge significant investments in oil and gas downstream, SG Holdings continues to demonstrate strong commitment to excellence and sustainability.
Commenting on this performance, the CEO of SG Holdings, Mr Somoye DEJI Matthew ."SG Holdings is pleased with the overwhelming response to our recent Commercial Paper issuance, which was oversubscribed. This achievement reflects the trust and confidence our investors have in our business strategy and financial strength. We appreciate the support of our investors and look forward to leveraging this momentum to drive future growth and value creation."
SG Holdings is a Nigerian company with offices in Nigeria and London. The company has grown in the past few years with strong balance sheet, robust shareholders funds and significant annual turnover. The company has invested heavily in oil and Gas downstream, midstream and shipping businesses.
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