Pathway Advisors has arranged a 10 billion Naira Series 1 Commercial Paper issuance for Nigerian real estate company MKH Properties under the company’s newly registered 30 billion Naira Commercial Paper Programme.

The issuance attracted subscriptions of 11.07 billion Naira, representing a subscription rate of 110.7%.

Pathway Advisors acted as Transaction Sponsor, Financial Adviser, Lead Issuing House and Arranger on the transaction, alongside other joint arrangers.

MKH Properties will use the net proceeds to fund working capital requirements and complete ongoing projects.

“We are delighted to have acted as Transaction Sponsor, Financial Adviser, Lead Issuing House and Arranger to MKH Properties Limited on its debut 10 billion Naira Commercial Paper Offer,” said Adekunle Alade, Founder and Chief Executive Officer of Pathway Advisors.

“The robust demand also points to the growing appetite among institutional investors for quality investment opportunities backed by credible sponsors, sound fundamentals and transparent governance.”

The transaction represents MKH Properties’ first issuance in Nigeria’s commercial paper market and provides the company with access to institutional capital through the broader 30 billion Naira programme.

Muibi Kehinde Hammed, Chief Executive Officer of MKH Properties, described the issuance as an important step for the company.

“This is more than the successful closing of a 10 billion Naira Series 1; it is the successful completion of our first step in this market, and we are proud of the confidence investors have shown in our business,” Hammed said.

“For us, raising the capital is only one part of the journey. What matters now is what we do with it. We intend to deploy the funds responsibly towards expansion and project execution.”

Pathway Advisors said it expects to continue working with MKH Properties on future series under the 30 billion Naira Commercial Paper Programme.