MKH Properties raises over ₦10bn in oversubscribed commercial paper debut
MKH Properties Limited closed Series 1 of its ₦30 billion Commercial Paper Programme with subscriptions exceeding ₦10 billion. The 364-day paper was issued at 25.0001% yield and 20.0110% discount rate, with minimum investment of ₦5 million. Pathway Advisors Limited structured the deal as financial adviser and lead arranger.
The oversubscribed debut series provides MKH Properties with structured financing outside conventional bank lending to support expansion across Lagos and Ibadan. Funds will strengthen capacity to deliver projects including MKH City, Chelmsford City, Dariann Court, The Legacy, The Wealthy Place and MKH Shopping Mall. The company manages over $50 million in assets across 12 estates with 1,000+ plots.
CEO Dr Muibi Kehinde Hammed called it a milestone showing investor confidence in their vision. With Series 1 complete, focus shifts to deploying capital effectively for project delivery. Will this successful capital markets access enable MKH Properties to accelerate its real estate development plans and deliver more projects across its portfolio?