Pomegranate Nigeria Limited obtains ₦2.25 billion in Ijarah Sukuk financing

Fast-emerging third-party logistics firm Pomegranate Nigeria Limited (PNL) was able to successfully finance N2.25 billion in Ijarah Sukuk 3-year Note to pay for the purchase of 40 additional logistical trucks to fulfill recently signed contracts. PNL render services that allows you to outsource operational logistics, from warehousing, all the way through delivery and ultimately enables you, our valued clients, to focus on other part of your business.

The Private Sukuk Al-Ijarah Notes were issued by PNL in collaboration with United Capital Trustees Limited as Lead Trustees to raise money for the acquisition of 40 new logistic trucks.

At the signing event in Lagos, Mr. Wole Elusakin, the CEO of Pomegranate, said, “the fund-raising process completion represents a major milestone for PNL. It further increased the ability of the company to take on new business challenges head-on as access to an alternative source of funding will help PNL meet its expansion strategy and give room for further growth of our business operations in the medium term.

He noted that,“Pomegranate Nigeria Limited (PNL) is a Third-Party Logistics Company (3PL) that was able to attain an investment-grade rating (A-) from Data Pro for the Notes, further reasserting its commitment to excellent delivery in its mandate. This private note issuance will enable Pomegranate Nigeria Limited (PNL) to expand its activities in the haulage and logistics business. Given the numerous opportunities in the 3PL space, WealthBridge is committed to the growth of the logistic industry.”

Mr. Ahmed Lawal, Group Managing Director and Chief Executive Officer of the WealthBridge Group, stated in his address that WealthBridge is delighted to act as the Arranger on the Transaction.

Ahmed said, “We are a diversified financial service group with expertise in project and structured finance, Capital Markets, and Private Equity. With sustainable and innovative solutions at the core of our service offerings, we offer financial advisory services to speak to the specific business needs of our clients across various sectors of the economy. This transaction speaks to how effective we are at what we do.

“From transportation & Logistics to Agriculture, Real Estate, and the Energy sector, Wealthbridge Group is leaving indelible business footprints along the way. We are a team of astute business leaders that brings together a wealth of experience in local and international Financial Services that cuts across Investment Banking, Equity Research, Private Equity, and Private Wealth Management,” he added


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