Eunisell Limited, one of Africa’s leading chemical and speciality fluid management companies, has opened subscriptions for its Series I & II Commercial Paper (CP) offer of up to ₦6 billion, under its ₦50 billion Commercial Paper Programme.
The offer, arranged by Vetiva Advisory Services Limited (Lead Arranger) and Cordros Advisory Services Limited (Co-Arranger), opened on October 3, 2025, and will close on October 10, 2025.
High-Yield Investment Opportunity
The offer provides investors with attractive implied yields of 23.50% (180 days) and 24.50% (270 days), reflecting one of the most competitive short-term returns currently available in Nigeria’s money market.
The notes are rated A3/BBB (GCR) and A2/BBB+ (DataPro), indicating strong credit quality and timely repayment capacity.
Investors can participate with a minimum subscription of ₦5 million, and multiples of ₦1,000 thereafter. The proceeds will be used to finance Eunisell’s short-term working capital and general corporate purposes, supporting the company’s expansion in key African markets.
Financial Performance and Credit Strength
Eunisell Limited has continued to strengthen its market position across Africa’s energy and industrial value chains. The company’s H1 2025 financial results showed: Revenue ₦21.2 billion, up 16.2% year-on-year; Profit Before Tax ₦2.7 billion, up 0.9% year-on-year; and Total Assets ₦34.2 billion, up 14.2% year-on-year.
These figures highlight Eunisell’s solid fundamentals, consistent profitability, and effective cost management, reinforcing its investment appeal.
Established Industry Leader
Founded in 1996, Eunisell has become one of the largest independent chemical and fluid solutions providers in Africa. The company serves major multinational clients including ExxonMobil, Shell Nigeria, TotalEnergies, Guinness, Nigerian Breweries, OVH Energy, Unilever, and Baker Hughes.
It is also the exclusive representative of Lubrizol in West Africa, while partnering with other leading global brands such as Clariant, Dow, Roemex, Houghton, and Tensid.
Offer Details
| Tenor | Discount Rate | Implied Yield | Maturity Date |
| Series I – 180 days | 21.06% | 23.50% | April 11, 2026 |
| Series II – 270 days | 20.74% | 24.50% | July 10, 2026 |
Tax: 10% Withholding Tax applies to interest earned at maturity (except otherwise exempt). Minimum Subscription: ₦5 million and multiples of ₦1,000 thereafter.
Offer Period: Opens October 3, 2025, closes October 10, 2025.
Investment Outlook
The issuance aligns with a rising appetite for high-yield, short-tenor corporate debt instruments in Nigeria, amid persistent inflation and volatile equity market conditions.
Analysts view the Eunisell offer as an attractive option for institutional and high-net-worth investors seeking liquidity, capital preservation, and steady returns.
For subscription enquiries, investors are advised to contact sales@vetiva.com.
