Legend Internet Plc has completed its Series 1 Commercial Paper (CP) issuance, achieving a 119.7% subscription rate and surpassing its 100% target, a development that underscores strong investor confidence in the company’s financial stability and growth prospects.
The oversubscription reflects positive market sentiment towards Legend Internet’s operating performance, credit profile, and disciplined corporate structure. It also signals sustained confidence in the company’s strategic vision to expand nationwide digital infrastructure under its multi-layered financing framework.
Successful Series 1 Commercial Paper Issuance
The Series 1 CP issuance is a key component of Legend Internet’s N10 billion multi-layered financing programme, which is structured to support the company’s medium- to long-term growth objectives. Proceeds from the issuance will be deployed towards the expansion of broadband infrastructure to deepen nationwide penetration, optimisation of working capital to enhance operational efficiency, and strategic acquisitions aimed at strengthening market position and accelerating service innovation.
Commenting on the successful issuance, the Chief Executive Officer of Legend Internet Plc, Aisha Abdulaziz, said the strong level of investor participation was both encouraging and validating. According to her, it demonstrates the market’s belief in the company’s financial integrity, operational strength, and long-term vision for digital infrastructure development. She noted that the support would further energise the company’s commitment to building a more connected, competitive, and digitally enabled Nigeria.
Abdulaziz added that the transaction goes beyond financing, describing it as a strategic enabler of Legend Internet’s expansion plans, working capital requirements, and future acquisitions. She expressed appreciation to investors, advisers, and market partners for their continued confidence in the company.
Also speaking, the Chief Financial Officer, Chris Pitan, said the milestone was driven by the company’s disciplined financing framework, which supports sustainable scaling, continuous innovation, and the ability to meet evolving customer needs. He reaffirmed the company’s commitment to building digital infrastructure that drives opportunity, productivity, and economic growth across communities in Nigeria.
Legend Internet Plc, described as an emerging pillar in Nigeria’s digital infrastructure ecosystem, provides high-speed fibre broadband enterprise connectivity, digital services, and next-generation technology solutions nationwide. The company said its financing strategy remains central to its goal of building resilient digital infrastructure capable of powering Nigeria’s growing digital economy.
