The Meridian

VFD Group opens ₦20bn Series 2 commercial paper under its ₦50bn programme

270-day and 364-day notes at implied yields of 21.50% and 23.50%, rated A1 by DataPro.

VFD Group Plc opened a commercial paper issue of up to ₦20bn on 28 August 2026 under its ₦50bn programme, closing on 4 September with settlement on 7 September 2026.

Series 2(A) has a 270-day tenor at a discount rate of 18.5498% (implied yield 21.50%); Series 2(B) has a 364-day tenor at 19.0383% (implied yield 23.50%). The paper carries a DataPro A1 short-term rating. Proceeds support short-term working capital.

The Meridian Editorial Team

Andrew U. — Editorial Director | Damilare A. — Intelligence Director | Amaka Nwoye — Senior Legal Research Analyst | Salome Mensah — Market Intelligence Analyst | May Ndlovu — Editorial Researcher | K.K. Lawal — Senior Correspondent | The Meridian’s editorial team brings experience across West African legal markets, commercial law, market intelligence and structured research. Our standard is simple: evidence first, independent judgement, and analysis grounded in how legal work happens in practice.

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