To provide housing for Nigerians, a Lagos-based company, God Made Homes (GMH) Limited, has partnered with Qualinvest capital limited, Pathway advisors limited, and six other professional parties to issue a Commercial Paper (CP).
The other six parties include Dupont capital advisory limited, Keystone bank, Ferdinand Eze & Co-auditor to the issuer.
The new practices- solicitors to the transaction, Chariots and Spirit LP- solicitors to the issuer and STL Trustees limited- trustees.
During the signing of the agreement, the Chief Executive Officer of GMH, Ayoolanrewaju Joseph, said the fund will ensure that the firm delivers the projects to specification, as well as timely completion.
Joseph said: “Funding has been a major issue in the real estate finance sector. This will help to reduce our cost overrun in the long run by having enough capital to purchase finishing materials.”
He further disclosed that the issuing houses are Qualinvest capital limited and Pathway advisors limited, adding that Keystone bank will provide the guarantee for the CP.
Joseph said the firm has covered over 70 units of housing in seven years of existence.
Representative of STL Trustees limited, Akin Oni, said STL is to play the role of trustee in the transaction, adding that the CP is secured and backed by keystone bank.
Oni said: “CPs are not long tenure districts but depending on when it is issued, it’s probably not going to be more than 270 days. It won’t be issued at once since it is N5 billion, it will come out in bits depending on how the market receives it.”
Alleluia is the Assistant Editor and Content Writer at LagosPost.ng. She is a prolific writer and editor, she has written features and news stories on Lifestyle, Sports, Business, Politics and B2B marketing. She is also an event coordinator, host and social media content creator.
