December 11, (THEWILL) — MeCure Industries Plc has announced the issuance of a ₦10 billion Series 6 commercial paper (CP) under its ongoing CP programme, offering investors an appealing 21% yield on the instrument with a 269-day tenor.
The subscription opens as part of the company’s broader efforts to strengthen liquidity and support working capital needs.
The commercial paper issuance forms part of MeCure’s ₦40 billion CP programme, a funding strategy designed to provide short-term capital ahead of longer-term financing initiatives. The 21% implied yield positions the CP among the higher-yielding short-term investment instruments in Nigeria’s fixed-income market, attracting both institutional and high-net-worth investors seeking enhanced returns relative to treasury bills and other money-market instruments.
MeCure has delivered impressive financial results in 2025, reinforcing confidence in its capacity to deploy funds effectively:
Revenue nearly doubled to about ₦60 billion for the nine months ended September 30, 2025, up 99% from the prior year, driven by higher product demand and expanded market penetration.
Pre-tax profit surged by 186% to ₦6.37 billion in the same period, with net profit rising to ₦4.46 billion, a significant improvement from a year earlier.
Total assets expanded by roughly 43% to ₦78.2 billion, reflecting growth in inventory and capital expenditure on production facilities.
This strong turnaround in top-line and bottom-line performance follows earlier periods of tighter margins and higher finance costs, signalling improved operational execution.
MeCure’s growth is underpinned by growing domestic demand for healthcare and pharmaceutical products, with revenue across acute, over-the-counter (OTC), and supplementary drug lines rising sharply.
Investments in local manufacturing infrastructure, including new production lines, support capacity expansion and reduce reliance on imports, a key advantage in an inflationary environment.
While the strong earnings trajectory boosts investor confidence, MeCure’s use of short-term debt to fund working capital has had mixed responses from credit analysts.
For investors, the 21% yield on the CP offers a compelling short-term return, particularly in a high-interest rate environment, but it should be weighed against elevated leverage and liquidity considerations.
MeCure’s CP offering comes at a time when Nigeria’s capital market is experiencing increased activity in corporate debt instruments. With yields remaining attractive and corporate issuers seeking alternative funding routes outside bank borrowing, commercial paper continues to be a key channel for short-term corporate finance.
Ogochukwu Onwaeze
