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The Nigerian agricultural exporter's commercial paper offer was oversubscribed by 46.7 per cent, with proceeds earmarked for cocoa procurement and expansion, underlining deep investor appetite for food and agribusiness paper.

Sunbeth Capital is mobilising about N150 billion through commercial paper issuances to fund operations across Nigeria's cocoa value chain, targeting aggregation, processing support and export readiness.

Sunbeth Global Concepts plans to raise up to N150 billion under a N500 billion commercial paper programme to fund cocoa purchases and a processing expansion.