Pathway Advisors leads N6.14bn oversubscribed commercial paper for Veritasi Homes
Pathway Advisors Limited has arranged another successful fundraising for Veritasi Homes & Properties Plc, as the real estate firm raised N6.135 billion in its Series 1 Commercial Paper issuance, exceeding the initial N5 billion target under its newly registered N20 billion programme.
The offering, which was oversubscribed, drew strong participation from institutional investors, highlighting growing market confidence in Veritasi’s credit quality and operational performance.
The 270-day tenor issuance marks the company’s first under the new programme, following the expiration of its earlier N20 billion plan through which it raised and fully repaid N15 billion.
“This success is a testament to the strength of our diversified business model, market reputation, and creditworthiness,” said Nola Adetola, managing director and CEO of Veritasi Homes. “We appreciate the continued trust of asset managers, insurance firms, and other institutional investors in our vision. The proceeds will support working capital needs and enhance operational efficiency as we continue to scale our real estate projects.”
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Pathway Advisors acted as Financial Adviser, Transaction Sponsor, and Lead Arranger on the transaction. The firm has gained prominence for structuring corporate debt and facilitating access to short-term financing in Nigeria’s capital market.
“We are proud to have supported Veritasi Homes on another successful issuance,” said Adekunle Alade, founder and CEO of Pathway Advisors. “The oversubscription demonstrates the market’s confidence in Veritasi’s governance, performance, and credit history. Since 2022, Veritasi has built a solid track record of issuing and redeeming its obligations in full, a key factor that continues to attract investors.”
Alade reaffirmed Pathway Advisors’ commitment to helping credible issuers tap both short- and long-term funding opportunities, describing the Veritasi deal as another milestone in Nigeria’s evolving corporate debt market.
The oversubscription of Veritasi’s debut issuance under the new programme highlights sustained investor appetite for well-rated issuers in the non-bank corporate space, even amid tight liquidity conditions and rising yields in Nigeria’s fixed-income market.
