Pivot Integrated Energy Services Limited has opened subscriptions for its Series 1 Commercial Paper issuance of up to ₦100 billion under its ₦300 billion Commercial Paper Programme.
The offer, which is being arranged by Pathway Advisors Limited as Lead Arranger and Issuing House, opened for subscription and is scheduled to close on July 31, 2026.
The commercial paper issuance comprises three tranches: a 180-day Tranche A, a 270-day Tranche B and a 364-day Tranche C.
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Tranche A offers a discount rate of 17.5 per cent with a yield of 19.15 per cent, while Tranche B carries a 19.5 per cent discount rate and a yield of 22.79 per cent. Tranche C offers a discount rate of 19.69 per cent and a yield of 24.50 per cent.
The minimum subscription is ₦5 million, representing 5,000 units at ₦1,000 per unit, with additional investments accepted in multiples of ₦1,000.
The issuance has received strong short-term credit ratings from leading rating agencies, including A3 from Agusto & Co., A3 from Global Credit Rating and A1 from DataPro Limited.
According to the company, proceeds from the offer will be deployed as working capital to support its importation, trading, storage, distribution and supply of refined petroleum products across Nigeria and selected African markets.
The company said the issuance provides investors with an opportunity to participate in the growth of one of Nigeria’s indigenous downstream energy companies, backed by strong revenue growth, established off-take arrangements and improving profitability.
Pivot Integrated Energy Services Limited is an integrated downstream energy company engaged in the importation, trading, storage, distribution and supply of refined petroleum products, including Premium Motor Spirit (PMS), Automotive Gas Oil (AGO) and Aviation Turbine Kerosene (ATK).
The company serves a broad customer base comprising bulk buyers, distributors, industrial users, logistics operators, manufacturers and retail channels across key commercial centres, including Lagos, Calabar and Port Harcourt.
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Pivot is also one of the 20 approved off-takers under the Dangote Refinery PMS Consortium, with an allocated target supply volume of 300 million litres of Premium Motor Spirit per quarter.
Commenting on the offer, Pathway Advisors Limited said the transaction reflects its commitment to facilitating access to capital and supporting sustainable growth across strategic sectors of the Nigerian economy.
Pathway Advisors Limited is a Securities and Exchange Commission-registered issuing house and financial advisory firm providing capital raising, project finance, mergers and acquisitions advisory, transaction advisory and other strategic financial solutions to corporate and institutional clients.
