Stanbic IBTC Capital has emerged as the lead arranger for Presco Plc’s N82.9 billion bond issuance, a move aimed at strengthening the company’s financial position and funding its expansion plans. The bond issuance, conducted under Presco’s Debt Issuance Programme, highlights growing investor confidence in Nigeria’s agricultural sector.
According to Presco, a leading player in the palm oil industry, the funds raised will be used to enhance production capacity, invest in new plantations, and improve processing facilities. The company’s leadership emphasized that the bond issuance aligns with its long-term strategy of increasing local palm oil production to reduce reliance on imports.
Stanbic IBTC Capital, known for its expertise in investment banking, played a key role in structuring the bond to attract institutional investors. The successful execution of the transaction underscores the deepening capital market activities in Nigeria, offering companies alternative funding sources beyond traditional bank loans.
Market analysts view this bond issuance as a positive development for the agricultural sector, which has been identified as a key driver of economic diversification. They also believe it will encourage more corporate entities to explore capital market funding to support business growth.
With this financial boost, Presco is expected to scale its operations, create more jobs, and contribute to Nigeria’s push for self-sufficiency in palm oil production.
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