L- R: Partner & Head of Communications, Veritasi Homes & Properties Plc, Tobi Yusuff; Head of Capital Markets, FirstCap Limited, Oluseun Olatidoye; Managing Director, FirstCap Limited, Ukandu E. Ukandu; Chief Executive Officer, Veritasi Homes & Properties Plc, Adetola Nola; Chief Executive Officer, Pathway Advisors Limited, Alade Adekunle; and Company Secretary, FirstCap Limited, Isaac Nwankwo at the Veritasi Homes & Properties Plc Commercial Paper Signing Ceremony recently held in Lagos on Monday
L-R: Managing Director, FirstCap Limited, Ukandu E. Ukandu; Founder/CEO, Pathway Advisory Limited, Alade Adekunle; Chief Executive Officer, Veritasi Homes & Properties Plc, Adetola Nola; Partner & Head of Communications, Veritasi Homes & Properties Plc, Tobi Yusuff; and Head of Capital Markets, FirstCap Limited, Oluseun Olatidoye at the Veritasi Homes & Properties Plc Commercial Paper Signing Ceremony recently held in Lagos on Monday.
FirstCap Limited, a premier investment banking business and a wholly owned subsidiary of FirstHoldCo Plc, acted as Joint Issuing House and Placing Agent on the Veritasi Homes & Properties Plc’s Series 1 Bond of ₦10 billion under its ₦30 billion Bond Programme duly registered with the Securities and Exchange Commission (SEC).
The Bond Programme is designed to support the development of Project Oyster Towers, located within Eko Atlantic City. Proceeds from the Series 1 Bond issuance are expected to be applied towards the construction of 30 luxury residential units, forming part of an 82-unit residential development comprising one-bedroom, two-bedroom, and three-bedroom apartments.
Veritasi Homes & Properties Plc is an indigenous real estate development company with operations across Lagos State and the Federal Capital Territory, Abuja, and a growing track record in the delivery of residential real estate projects in Nigeria.
Commenting on the transaction, Ukandu E. Ukandu, Managing Director/Chief Executive Officer of FirstCap Limited, stated:
“We are proud to partner with Veritasi Homes & Properties Plc on this important transaction. The establishment of the ₦30 billion Bond Programme reflects our commitment to mobilising capital for the real estate sector, which remains a key driver of Nigeria’s economic growth. Project Oyster Towers exemplifies the future of luxury and sustainable living in Nigeria, and this transaction reinforces FirstCap’s role as a trusted advisor in major corporate finance initiatives.”
FirstCap’s involvement in the Bond Programme further reinforces our dedication to supporting the growth of the Nigeria’s real estate sector. The successful execution of this transaction highlights the depth of expertise within our capital markets team and our role in supporting issuers in accessing long-term funding solutions aligned with their strategic objectives.
By continuing to connect capital providers with high-impact infrastructure projects such as Project Oyster Towers, we remain committed to driving economic development and delivering long-term value for all stakeholders, Ukandu added.
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