Pivot Integrated Energy Services Redeems ₦8.25bn Commercial Paper Two Days Ahead of Maturity

Pivot Integrated Energy Services Limited has redeemed its ₦8.25 billion Series 1 Tranche A Commercial Paper two days ahead of its scheduled maturity, marking the company’s first repayment since entering Nigeria’s commercial paper market.

The 90-day instrument, which was scheduled to mature on November 2, 2026, was fully settled on October 31, 2026.

The early repayment comes less than three months after the company’s maiden commercial paper issuance and is expected to strengthen its repayment record and investor relationships as it pursues growth in Nigeria’s downstream energy sector.

Pivot’s maiden Series 1 Commercial Paper issuance, which closed in August 2026, attracted subscriptions of ₦100.08 billion against a target of ₦100 billion, reflecting strong investor demand for the offering.

The issuance was structured across four tranches with tenors of 90, 180, 270 and 364 days. It forms the first phase of the company’s ₦300 billion Commercial Paper Programme.

Following the successful redemption of Tranche A, the remaining 180-day, 270-day and 364-day instruments remain outstanding and are expected to be settled at their respective maturity dates.

Commenting on the development, Pivot’s Managing Director, Babajide Babatope, said the early repayment demonstrated the company’s commitment to investors who supported its entry into the capital market.

“Our debut in the capital market came with a responsibility to every investor who backed us.

“We are pleased to have fulfilled our first repayment obligation ahead of schedule.

“For us, this is about more than meeting a financial commitment; it is about building a relationship with the investment community on the foundation of trust, accountability and financial discipline,” he said.

Babatope appreciated the pension funds, insurance companies, banks, fund managers and other institutional investors that participated in the issuance, noting that their support remained important to the company’s long-term growth plans.

He also commended Pathway Advisors Limited, which served as Transaction Sponsor, Financial Adviser, Lead Issuing House and Lead Arranger, for its guidance and support throughout the transaction.

The Founder and Chief Executive Officer of Pathway Advisors Limited, Adekunle Alade, also described the early repayment as an indication of the importance of financial discipline in building investor confidence, particularly for companies entering the capital market for the first time.

“Investor confidence is built through consistent actions.

“For a debut issuer, meeting its repayment obligations ahead of schedule sends a positive signal to the market about its commitment to financial responsibility.

“Pivot has taken an important step in establishing its repayment track record, which will be relevant as it progresses with the remaining phases of its ₦300 billion Programme,” Alade said.

He added that the responsibilities of a financial adviser extend beyond facilitating an issuance to include continuous engagement with clients throughout the life of their debt instruments.

According to him, this involves monitoring the deployment of proceeds and helping companies prepare for repayment obligations.

Alade said Pivot’s early settlement of Tranche A reflected the importance of financial planning, advisory support and investor engagement.

As the company continues to execute its business strategy, the redemption provides a foundation for its ongoing capital market activities.

Pivot said it remained focused on meeting its obligations under the outstanding tranches while maintaining the financial discipline and investor relationships required to support its long-term objectives.
About Pivot Integrated Energy Services Limited
Pivot Integrated Energy Services Limited was incorporated in December 2017 as an indigenous integrated downstream energy company.

Its operations include the importation, trading, storage, distribution and supply of refined petroleum products, including Premium Motor Spirit (PMS), Automotive Gas Oil (AGO) and Aviation Turbine Kerosene (ATK), across Nigeria and selected African markets.

The company is one of 20 approved off-takers under the Dangote Refinery PMS Consortium, with a target allocation of 300 million litres per quarter.

Pivot has also expanded its regional operations into Ghana and plans to enter the Tanzanian market.

The company is rated A3 (Short Term) / Bbb- (Long Term) by Agusto & Co., A3 (Short Term) / BBB (Long Term) by GCR Ratings, and A1 (Short Term) / A- (Long Term) by DataPro Limited.