Stanbic IBTC Capital Leads Presco’s ₦82.9bn Bond Issuance

Presco PLC (Presco or the “Company”), has achieved a significant milestone with the successful issuance of its ₦82,896,000,000 7-year 23.75% senior unsecured fixed rate Series I Bonds under its ₦150 billion bond issuance programme (the “Transaction”) with the Securities and Exchange Commission (“SEC”).

Stanbic IBTC Capital Limited (“Stanbic IBTC Capital”) acted as the Lead Issuing House on the Programme.

The proceeds from the Transaction will enable the Company fund its acquisition of a 100% equity stake in Ghana Oil Palm Development Company (GOPDC), further supporting its strategic expansion objectives.

L-R: Oladele Sotubo, Chief Executive, Stanbic IBTC Capital; Felix Nwabuko, Group CEO, SIAT Group; and Reji George, Managing Director/CEO, Presco PLC, during the signing ceremony of Presco PLC’s ₦82.9 billion 7-year 23.75% Series I Bond held recently in Lagos.

Speaking on the transaction registration, Mr Reji George, managing director / CEO, Presco PLC commented:

“The successful completion of our Series 1 Bond issuance solidifies Presco’s foundation for continued growth and expansion. Aligned with our strategic objectives of increasing our planted area of palm oil and, to lead Africa in the fully integrated edible oil and fats business in the nearest future, the proceeds from this issuance will be primarily directed towards the acquisition of a majority equity stake in the Ghana Oil Palm Development Company (GOPDC).

This not only enhances our operational efficiencies, It also solidifies our market presence and competitive advantage in the palm oil sector beyond Nigeria. Most importantly, this will enable us to better serve our valued customers and deliver sustainable value to our shareholders. We extend our sincere gratitude to Stanbic IBTC Capital and all our advisors for their support throughout this process.”

Also speaking on the transaction registration, Oladele Sotubo, chief executive, stanbic IBTC Capital, said:

“Stanbic IBTC Capital is proud to have advised Presco PLC on the successful issuance of its ₦82.9 billion Series 1 bond. As the largest local currency corporate bond issuance in the Nigerian market in recent years, this milestone underscores our deep expertise in capital markets and our commitment to delivering innovative, high-impact financial solutions.

L-r: Oladele Sotubo, Chief Executive, Stanbic IBTC Capital; Kenneth Ugo, Investor Relations Manager, Presco PLC; Olaronke Arigbede, Group Treasurer, SIAT Group; Reji George, Managing Director/CEO, Presco PLC; Felix Nwabuko, Group CEO, SIAT Group and Bayo Ajayi, Chief Executive Officer, Rand Merchant Bank Nigeria Limited, during the signing ceremony of Presco PLC’s ₦82.9 billion 7-year 23.75% Series I Bond held recently in Lagos.

Beyond reinforcing Presco’s strategic growth, this transaction enhances funding diversification within the agricultural sector, driving sustainable industry expansion.

“We appreciate Presco PLC’s trust in Stanbic IBTC Capital and the consortium of advisors who contributed to the successful execution of this landmark deal”, he said.

The post Stanbic IBTC Capital Leads Presco’s ₦82.9bn Bond Issuance appeared first on Tech | Business | Economy.