business
Presco Secures N82.9bn Bond Led by Stanbic IBTC Capital

Stanbic IBTC Capital Limited has taken the lead role in Presco Plc’s issuance of an N82.89bn bond.
On Thursday, it was announced that this seven-year, 23.75 percent senior unsecured fixed-rate Series I bond, part of the company’s N150bn bond issuance programme, aims to expand Presco’s operations across West Africa. The funds raised will be used to acquire a 100 percent equity stake in the Ghana Oil Palm Development Company.
Reji George, Managing Director/Chief Executive Officer of Presco Plc, stated:
“The successful completion of our Series 1 Bond issuance solidifies Presco’s foundation for continued growth and expansion. Aligned with our strategic objectives of increasing our planted area of palm oil and leading Africa in the fully integrated edible oil and fats business in the near future, the proceeds from this issuance will be primarily directed towards the acquisition of a majority equity stake in the Ghana Oil Palm Development Company. This not only enhances our operational efficiencies; it also solidifies our market presence and competitive advantage in the palm oil sector beyond Nigeria. Most importantly, this will enable us to better serve our valued customers and deliver sustainable value to our shareholders. We extend our sincere gratitude to Stanbic IBTC Capital and all our advisors for their support throughout this process.”
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Oladele Sotubo, Chief Executive of Stanbic IBTC Capital, added:
“Stanbic IBTC Capital is proud to have advised Presco PLC on the successful issuance of its N82.9bn Series 1 bond. As the largest local currency corporate bond issuance in the Nigerian market in recent years, this milestone underscores our deep expertise in capital markets and our commitment to delivering innovative, high-impact financial solutions. Beyond reinforcing Presco’s strategic growth, this transaction enhances funding diversification within the agricultural sector, driving sustainable industry expansion. We appreciate Presco PLC’s trust in Stanbic IBTC Capital and the consortium of advisors who contributed to the successful execution of this landmark deal.”
Presco is a fully integrated agro-industrial company with oil palm plantations, a palm oil mill, a palm kernel crushing plant, and a vegetable oil refining and fractionation plant.
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