MKH Properties signs N30bn commercial paper programme to fund expansion
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Nigerian developer MKH Properties has signed a N30 billion commercial paper programme, with a first 364-day series yielding 25.0001%, as it moves to fund project delivery across its Lagos and Ibadan estates.
Nigerian real estate developer MKH Properties Limited has formally signed a N30 billion Commercial Paper Programme to fund expansion, with the transaction structured by Pathway Advisors Limited. The signing ceremony took place at the Four Points by Sheraton in Lagos.
The first series under the programme is now open for subscription. The MKH Properties Series 1 Commercial Paper, registered with the Securities and Exchange Commission of Nigeria, offers investors a yield of 25.0001% and a discount rate of 20.0110%, with a tenor of 364 days, a unit price of N1,000 and a minimum subscription of N5 million. The offer closes on September 23, 2026.
The company holds a Long-Term BBB+ and Short-Term A2 credit rating from DataPro, which it said enabled the transaction. Chief executive Muibi Kehinde Hammed said the capital is intended to expand the business, adding that the company would return to the market for a larger amount in future, while Executive Director Commercial Idowu Olukunle described the signing as a landmark for the brand.
MKH Properties said it has grown since 2021 to manage a portfolio exceeding $50 million and to have delivered more than 1,000 plots across 12 estates in Lagos and Ibadan. The programme is designed to accelerate project delivery and fund new development at a time when Nigerian interest rates are above 27% and construction costs are rising across the sector.