Pivot Integrated Energy Services Limited has repaid investors in full on the ₦8.25 billion Tranche A of its Series 1 Commercial Paper, two days before the instrument’s scheduled maturity. The 90-day Tranche, which was due on 2 November 2026, was settled on 31 October 2026.
The early repayment is a significant first for the downstream energy company. It comes just three months after Pivot entered the Nigerian Commercial Paper market and sends a clear signal of the Company’s financial discipline.
Pivot’s maiden Series 1 issuance, which closed in August 2026, attracted ₦100.08 billion from investors against a ₦100 billion target. Structured in four tranches of 90, 180, 270 and 364 days, the Series forms the first phase of Pivot’s ₦300 billion Commercial Paper Programme. The 180, 270 and 364-day tranches remain outstanding and will be repaid as they fall due.
Reacting to the milestone, Mr. Babajide Babatope, Managing Director of Pivot Integrated Energy Services Limited, noted:
“Our debut in the capital market came with a promise to every investor who backed us. Today we have kept the first part of that promise, and we have done so early. For a company issuing Commercial Paper for the first time, nothing speaks louder than paying back on time.
“Our gratitude goes to the pension funds, insurers, banks, fund managers and other institutional investors who believed in Pivot from day one. Their backing has strengthened our operations, and we will continue to manage our finances with the same discipline as we pursue the next stages of our growth.”
He further commended Pathway Advisors Limited, which served as Transaction Sponsor, Financial Adviser and Lead Issuing House & Lead Arranger, for guiding the Company through its first capital market transaction.
Also commenting, Mr. Adekunle Alade (MBA, FCA, M.CIoD), Founder and Chief Executive Officer of Pathway Advisors Limited, stated:
“A debut issuer repaying ahead of schedule tells investors a great deal about its credit discipline. Pivot has turned the confidence shown at issuance into a track record, and that is the strongest foundation for the rest of its ₦300 billion Programme.
“Our work does not stop once an issuance closes. We stay close to our clients for the full life of every instrument, tracking how proceeds are deployed and planning ahead for each repayment date. Pivot’s early settlement of Tranche A shows what that partnership can deliver, and we thank investors for their continued support as the remaining tranches progress to maturity.”
About Pivot Integrated Energy Services Limited
Pivot Integrated Energy Services Limited, incorporated in December 2017, is an indigenous integrated downstream energy company engaged in the importation, trading, storage, distribution and supply of refined petroleum products — including Premium Motor Spirit, Automotive Gas Oil and Aviation Turbine Kerosene — across Nigeria and selected African markets. It is one of 20 approved off-takers under the Dangote Refinery PMS Consortium, with a target allocation of 300 million litres per quarter. Pivot has also expanded regionally, with active operations in Ghana and a planned entry into Tanzania.
Pivot is rated A3 (Short Term) / Bbb- (Long Term) by Agusto & Co., A3 (Short Term) / BBB (Long Term) by GCR Ratings, and A1 (Short Term) / A- (Long Term) by DataPro Limited.