AIICO Capital Limited has announced the launch of C&I Leasing Plc’s Series 1 Commercial Paper issuance of up to ₦18.20 billion, under the company’s ₦50 billion Commercial Paper Issuance Programme. The offer opened on Tuesday, December 16, 2025, and is scheduled to close on Friday, December 19, 2025.
The 364-day commercial paper is aimed at qualified institutional investors and will be used to support C&I Leasing Plc’s short-term working capital and funding requirements. The issuance is registered with the Securities and Exchange Commission (SEC), Nigeria.
C&I Leasing Plc, incorporated on December 28, 1992, is licensed by the Central Bank of Nigeria (CBN) to operate as a finance company. Over the years, the company has evolved from a consumer finance leasing business into a diversified leasing and business services group serving indigenous and multinational organisations across West Africa.
The company’s core operations span four major business segments: Marine Services, Fleet Management, Personnel Outsourcing, and Cititracks. Its activities include equipment leasing, car and marine vessel rentals, fleet management services, and personnel outsourcing solutions.
C&I Leasing Plc operates through a group structure comprising the parent company and subsidiaries including Leasafric Ghana Limited, EPIC International FZE (United Arab Emirates), and C&I Leasing FZE (Nigeria). The group also has interests in joint ventures such as SIFAX C&I Marine Limited in Nigeria and SIFAX C&I Leasing Marine Limited in Seychelles, extending its footprint into East Africa.
The company is led by an experienced executive management team and maintains a stable outlook supported by consistent financial performance. C&I Leasing Plc currently holds short-term credit ratings of A2 from Agusto & Co. and A3 from GCR, reflecting its creditworthiness in the Nigerian debt capital market.
Key Terms of the Series 1 Commercial Paper
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Issuer: C&I Leasing Plc
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Issuing House: AIICO Capital Limited
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Issue Size: ₦18.20 billion
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Series: 1
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Tenor: 364 days
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Discount Rate: 18.0417%
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Implied Yield: 22.00%
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Offer Open Date: Tuesday, December 16, 2025
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Offer Close Date: Friday, December 19, 2025
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Allotment Date: Friday, December 19, 2025
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Funding Date: Monday, December 22, 2025
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Maturity Date: Monday, December 21, 2026
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Minimum Subscription: ₦5,000,000 and multiples of ₦1,000 thereafter
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Use of Proceeds: Short-term working capital and funding needs
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Issuer Rating: Agusto & Co – A2 (Short Term); GCR – A3 (Short Term)
The yield on the commercial paper is subject to withholding tax, in line with prevailing regulations.
Investors seeking to appraise the offer have access to supporting documents including Agusto and GCR rating reports, audited financial statements from 2022 to 2024, the Q3 2025 financial statement, the Shelf Prospectus, Series 1 Pricing Supplement, and the Commitment Form.
