Construction giant, Julius Berger Plc, is offering the investing public Series 1 and 2 commercial paper offers worth N30 billion in a bid to raise adequate funds for its operations, ARM Securities announced through a note sent to investors. The offer closes January 30, 2023 just as the date also serves as the allotment day.
According to the offer document, Series 1 has a tenor of 182 days with a discount rate of 13.0865%, and an implied yield of 14%. The minimum subscription is N5 million and multiples of N1000 thereafter,
Series 2 has a tenor of 267 days with a discount rate of 13.51585% and an implied yield of 15%.
Julius Berger offers holistic services in the areas of planning, design, engineering, construction, operation and maintenance of buildings, infrastructure and industry projects in Nigeria.
The construction firm has to its credit some landmark projects which it had successfully executed including the Second River Niger Bridge aimed at strengthening socio-economic development across the East-West region, the construction of Second Mainland Bridge (Eko Bridge), repair of the Onitsha bridge in seven weeks, construction of the 500m long and 25m high Laminga Dam, with spillway system, water-treatment plant and 48km pipeline distribution network, completion of construction work for Nnamdi Azikiwe International Airport, Abuja, among others.
