Pathway Advisors Launches N25 Billion Commercial Paper Issuance for Zeenab Foods

Pathway Advisors Limited has announced the opening of Zeenab Foods Limited's Series 3 Commercial Paper (CP) issuance, valued at up to N25 billion. This offering, part of Zeenab Foods' larger N50 billion CP Programme, aims to bolster the company's working capital for its agro-processing and commodity trading operations.

The subscription window for the issuance opened on August 4, 2026, and will close on August 10, 2026, with settlement and maturity dates set for August 11, 2026, and August 10, 2027, respectively. The funds raised are earmarked for short-term financing needs across Zeenab's diverse business segments.

Established in 2011, Zeenab Foods is a significant contributor to Nigeria's agro-value chain. The company operates across milling, export of processed agro-commodities, and food supply contracts with international organizations like the UN World Food Programme. Its operational footprint includes processing facilities in Abuja and Kano, with international liaison offices in China and Dubai.

Pathway Advisors is serving as the Lead Arranger and Issuing House for the Series 3 issuance. Zeenab Foods has demonstrated financial strength, backed by investment-grade ratings from Agusto & Co. (Short-Term A1, Long-Term A-) and DataPro Limited (Short-Term A1, Long-Term A+). The company boasts a consistent track record of timely debt repayment, having successfully redeemed previous tranches under its commercial paper programs since 2024, reinforcing investor confidence.