Pathway Advisors Champions Oversubscribed ₦11.45 Billion Series 2 Commercial Paper Issuance for Lekki Gardens Estate Limited

Pathway Advisors Limited is pleased to have acted as the Lead Issuing House, Financial Adviser, and Transaction Sponsor to the ₦11.45 billion oversubscribed Series 2 Commercial Paper Issuance under the ₦25 billion Commercial Paper Programme of Lekki Gardens Estate Limited, approved by the Securities and Exchange Commission, Nigeria, in November 2025. Originally offered at ₦10 billion, the March 2026 issuance attracted strong participation from institutional and corporate investors, resulting in a notable oversubscription and subsequent upsizing to ₦11.45 billion. The strong demand underscores sustained investor confidence in Lekki Gardens’ proven development track record, robust governance framework, solid liquidity position, and strong project execution capabilities. Proceeds from the issuance will support Lekki Gardens’ working capital requirements and the completion of several ongoing projects, reinforcing the company’s commitment to delivering high-quality real estate developments. Commenting on the successful transaction, Mr. Adekunle Alade (FCA), Founder and CEO of Pathway Advisors Limited, noted that: “The oversubscription underscores Pathway’s strong ability to mobilize capital from both institutional investors and high-net-worth individuals (HNIs). It also reflects our expertise in navigating complex regulatory environments and structuring effective capital solutions that enable our clients to achieve their funding objectives.” He added that Pathway remains committed to partnering with credible issuers to unlock financing opportunities within the Nigerian Capital Market, while facilitating efficient access to investment capital that supports sustainable growth and long-term value creation. Commenting on the successful issuance, Richard Nyong, Managing Director of Lekki Gardens Estate Limited, stated: “The strong investor participation and oversubscription recorded in this issuance reflect the market’s confidence in Lekki Gardens’ business model, governance standards, and proven track record in delivering quality developments. We remain committed to executing our projects efficiently while creating long-term value for our investors and stakeholders. This successful issuance further strengthens our capacity to accelerate the completion of our ongoing developments and pursue new growth opportunities.” We appreciate the support of the investing community and our partners, particularly Pathway Advisors, whose expertise significantly contributed to the success of this transaction. We remain focused on delivering high-quality developments while expanding our footprint in Nigeria’s real estate sector.” In her remarks, Mrs. Emily Atebe, Director of Lekki Gardens Estate Limited, said, “We appreciate the strong investor response and confidence shown in Lekki Gardens through this oversubscribed issuance. It reaffirms the strength of our development pipeline, our disciplined execution strategy, and our commitment to maintaining high governance standards. The proceeds will support the completion of key projects and position the company to pursue the next phase of its strategic expansion.” Photo Caption: From Left to Right: Managing Director, FirstCap Limited, Ukandu E. Ukandu, Executive Director, Lekki Gardens Limited, Mrs. Emily Atebe, Non-Executive Director, Lekki Gardens Limited, Mrs. Olusola Nyong and Founder/CEO Pathway Advisors Limited, Adekunle Alade, at the N25 Billion Commercial Paper Signing Ceremony for Lekki Gardens Estate Limited