SG Holdings Limited, a major player in the downstream oil and gas sector and a fast-rising force in international shipping, has successfully redeemed its oversubscribed Commercial Paper (CP) issuance. The company initially aimed to raise up to ₦30 billion, but strong investor demand pushed total subscriptions to ₦34.59 billion across two series that matured in September and December 2025. The full amount was redeemed at maturity, underscoring SG Holdings’ solid financial standing and commitment to its investors.
The CP programme, launched in March 2025, attracted significant attention from institutional investors such as Asset Managers, Pension Fund Administrators, and other Qualified Institutional Investors. The notes were priced competitively within the 24–26% and 26–28% ranges, showing strong investor appetite and confidence in the company’s financial strength and credit profile.
SG Holdings’ impressive ratings of A1+ from GCR and A+ from Agusto & Co contributed to the overall success of the CP programme. These ratings are among the highest achievable in the short term and highlight the company’s credibility in the market. Not many firms in SG Holdings’ business category hold such ratings, setting the company apart as one of the strongest in the downstream and energy logistics space.
According to the company, the CP proceeds offered a cost-effective short-term financing source that strengthened liquidity and improved cash flow management. The oversubscription also reflected the company’s growing reputation and strong relationships within Nigeria’s capital market. Commenting on the development, SG Holdings’ Chief Executive Officer, Mr. Deji Matthew Somoye, expressed satisfaction with the outcome, saying, “We are pleased to have successfully repaid the ₦34.59 billion raised across two tranches as scheduled. The full redemption of our maiden commercial paper programme further demonstrates our commitment to maintaining investor confidence and showcases the financial discipline and creditworthiness of our company.”
SG Holdings Limited, an African multinational corporation headquartered in Lagos, Nigeria, also operates branches in Abuja, Port Harcourt, Accra (Ghana), Abidjan (Ivory Coast), and London (UK). The company’s diverse operations cut across energy logistics, shipping, trading, infrastructure, retail fuel services, aviation fuel supply, liquefied petroleum gas (LPG), and intra-African energy trade.
The group has made major investments in Nigeria’s downstream oil and gas industry, including an ultra-modern tank farm, jetty, gas plant, and an expanding network of retail filling stations. SG Holdings has also built a strong position in global shipping and currently stands as the largest indigenous private owner of ocean-going tankers in West Africa. Its fleet includes seven vessels—five Suezmax and two Medium Range (MR) tankers—named MT Stallion, MT Adebola Adeline, MT Moteleola, MT Adebomi, MT Ijemo, MT Montagu, and MT Westmore. The company’s shipping operations are managed from its London office in partnership with leading global firms such as Clarkson Shipping (UK), Teekay Marine (Canada), Navig8 Shipping (UK), Ocean EXL (UAE), and Union Maritime (UK). SG Holdings also disclosed plans to expand its fleet further in 2026 with the addition of three new vessels.
