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Pathway Advisors Limited, the Lead Arranger and Issuing House, is pleased to announce that Pivot Integrated Energy Services Limited (“Pivot” or “the Issuer”) Series 1 Commercial Paper issuance of up to ₦100 billion (“the Offer”) under its ₦300 billion Commercial Paper Programme is NOW OPEN for subscription.
The Offer is expected to close on 31st July, 2026.
Key Transaction Terms:
- Issuer: Pivot Integrated Energy Services Limited
- Lead Arranger/Issuing House: Pathway Advisors Limited
- Programme Size: ₦300 Billion Commercial Paper Programme
- Issue Size: Up to ₦100 Billion (Series 1)
- Tenor: Series 1 – Tranche A (180 days), Tranche B (270 days), Tranche C (364 days)
- Discount Rate: Tranche A (17.5%), Tranche B (19.5%), Tranche C (19.69%)
- Yield: Tranche A (19.15%), Tranche B (22.79%), Tranche C (24.50%)
- Units of Sale: Minimum of ₦5,000,000 (5,000 units at ₦1,000/unit) and multiples of ₦1,000 thereafter
Issuer Short Term Rating
- Agusto & Co. – A3
- Global Credit Rating – A3
- DataPro Limited – A1
Use of Proceeds
- Proceeds from the Issuance will be applied towards working capital finance, supporting Pivot’s ongoing operations in the importation, trading, storage, distribution and supply of refined petroleum products across Nigeria and selected African markets.
- The Offer presents investors with an opportunity to participate in the growth of a leading indigenous downstream energy company with a strong track record of revenue growth, robust off-take arrangements, and improving profitability.
