February 28, 2023/FSDH Capital
Robust International Commodities Limited (“Robust”, the “Issuer” or the “Company”) up to ₦15 billion Series 3 & 4 Commercial Paper Issuance (“CP”) is STILL OPEN and now scheduled to close on Friday 3rd March, 2023.
Robust International Commodities Limited is an agriculture commodity processing and trading company in Nigeria focused on high-margin agricultural commodities like Rice, Cashew Nuts, Sesame Seeds, Gum Arabic, Ginger, and Grains, amongst others. The Company was incorporated in 2017 as a private limited liability company and commenced operations in 2018.
It’s parent company – Robust International PTE Limited (“Robust PTE”), was incorporated in 2006 and is headquartered in Singapore with its processing facilities and presence in over 25 countries across the globe while employing over 300 employees. Robust PTE is rated as 5A2 (upgraded from 4A) by D&B.
Robust PTE plays an active and important role in the essential food supply chain across the globe and it has ambitious plans to further enhance and expand its processing facilities in the coming years, further actively contributing to the economic growth of the nations while enriching local communities and farmers. Robust PTE is committed to environmental sustainability practices, engaging with various development institutions such as IFC in order to establish and maintain connections with smallholder farmers and communities to improve their livelihoods. The vision of the organization is to have a significant impact on farming practices in order to reduce irrigation costs and increase yield through simple practices that can have wide-reaching effects throughout the supply chain.
Robust PTE has partnered with the International Finance Corporation (IFC), the largest global development institution focused on the private sector in emerging markets. IFC has agreed to issue US$18 million in debt financing to Robust PTE.
Robust will use proceeds from the loan to build modern warehouses and processing facilities in the northern region of Nigeria, and the financing is one of the first investments in modern secondary sesame processing in that region. The project will improve smallholder farmers’ access to modern storage and processing facilities, while allowing Robust to increase direct sourcing volumes with smallholder farmers in Nigeria. The storage facilities will relieve farmers of the need to store their own crops in often poor conditions, which leads to high post-harvest losses and unnecessary GHG emissions related to spoiled food, which account for around 5 percent of Nigeria’s total GHG emissions.
The IFC financing package consists of a senior secured loan of up to US$9 million from IFC’s own account, as well as a concessional loan of up to US$9 million from IFC acting as the implementing entity of the International Development Association’s Private Sector Window.
Robust has commenced utilization of the IFC loan towards the building of modern warehouses and processing facilities in the northern region of Nigeria. Further details of the key milestones achieved can be accessed in the IFC progress report included in the supporting documents. Please visit the IFC website for more details – IFC Backs Singapore-Based Agricultural Company Robust’s Plans to Expand in Nigeria.
Please be informed that the scheduled closure & funding date for the offer has been revised as highlighted in the table below:
For more information on the Offer, please refer to the offer documents listed below, which can be accessed through this Link;
- Programme memorandum
- Series III and IV pricing supplements
- Series III and IV Commitment Forms
- Audited financial statements (2018 – 2021)
- Executed Q3 2022 management account
- Investor presentation
- Issuer’s rating reports by GCR and DataPro
- Valid PenCom compliance certificate
- IFC progress report
