Series 1 commercial paper · Agritech
ThriveAgric raises about ₦5.3bn in debut commercial paper issue
The Nigerian agritech company exceeds its ₦5bn target in its first commercial paper issuance.
The Series 1 issue opens a debt-capital-market funding channel for ThriveAgric’s agricultural operations. Its proceeds support the working-capital cycle behind purchasing and aggregating crops.
The issuance sits within a ₦50 billion commercial paper programme, which provides a framework for future borrowing. Anchoria Advisory Services acted as lead issuing house, and the company reported participation from institutional investors.
Use of funds
Support working capital, commodity procurement and aggregation.
Expand the outgrower network and agricultural trading across operating hubs.
Funding history
Series 1 commercial paper · This round~NGN 5.3B