Luxury real estate developer Sujimoto Holdings Limited has launched a N5 billion Naira Series 1 Commercial Paper offering under its N20 billion programme, presenting investors with a potential discount rate of 25.06% and an implied yield of 30.86% for a 270-day tenor.
Cowry Asset Management Limited informed investors of this opportunity in an emailed note on Wednesday, highlighting Sujimoto's aim to raise up to ₦5 billion through this issuance.
Sujimoto Holdings Limited positions itself as a leading luxury real estate and construction firm dedicated to elevating living standards in Nigeria. The company's commercial paper has received a BBB+ rating from DataPro, a testament to its strong financial standing as a rapidly expanding construction entity in the Nigerian market. This rating is supported by Sujimoto's well-capitalized balance sheet, quality assets, robust profitability, and an experienced and stable management team.
The company's core business encompasses high-end off-plan residential developments, customized building solutions for private clients, commercial hospitality ventures, and contracts with government and institutional bodies.
Cowry Asset Management Limited emphasized Sujimoto's commitment to excellence, stating, "The company is committed to using top-tier materials, ensuring timely delivery, and providing excellent value to clients. Sujimoto also distinguishes itself by its plan to revolutionize the concrete supply industry in Nigeria through Sujimoto Ready-Mix." This forward-thinking initiative further underscores the company's growth potential and market ambition.