Legend Internet Plc has announced a highly successful Series 1 Commercial Paper (CP) issuance, securing a remarkable 199.7% oversubscription. The N10 billion offering, part of the company’s broader financing program, far exceeded its target, signaling robust investor confidence in the telecommunications firm’s financial standing and operational strategy. This strong demand underscores the market’s positive outlook on Legend Internet’s growth trajectory and its commitment to expanding digital infrastructure across Nigeria.

The substantial oversubscription is attributed to the market’s trust in Legend Internet’s performance, its creditworthiness, and its meticulous operational management. The funds raised are earmarked for critical strategic initiatives, including the expansion of broadband infrastructure and nationwide coverage. Furthermore, the capital will bolster the company’s working capital and support strategic acquisitions aimed at enhancing service delivery and market presence.

Aisha Abdulaziz, CEO of Legend Internet Plc, expressed her enthusiasm for the outcome, stating that the significant investor participation validates the company’s financial integrity and its long-term vision. She highlighted that this milestone is instrumental in fueling the company’s ambitious expansion plans, meeting immediate working capital requirements, and facilitating future acquisitions. Abdulaziz extended her gratitude to the investors, advisors, and partners whose unwavering confidence continues to propel Legend Internet forward.

Echoing the CEO’s sentiments, Chief Financial Officer Chris Pitan emphasized that the achievement is a direct result of a disciplined financing framework. This framework enables the company to scale its operations sustainably, foster continuous innovation, and adapt to the ever-evolving needs of its customer base. Pitan noted that this successful funding round positions Legend Internet for continued growth and service improvement.

This recent funding success follows a series of strategic moves by Legend Internet. In November 2025, shareholders approved plans to raise up to N150 billion in additional capital at the company’s Annual General Meeting. This authorization was part of a comprehensive strategy to fund nationwide expansion, a move initiated after the company’s listing on the Nigerian Exchange (NGX) in April 2025.

Further reinforcing its financial stability and investor appeal, Legend Internet had its creditworthiness assessed by Agusto & Co. Limited. The rating agency assigned a Bbb long-term rating and an A3 short-term rating, reflecting the company’s sound financial position and operational performance. These ratings indicate Legend Internet’s strong ability to meet its financial obligations, a factor that likely contributed significantly to the overwhelming investor interest in its Commercial Paper issuance.

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Keywords: Legend Internet, Commercial Paper issuance, N10 billion financing, broadband expansion, investor confidence, Nigerian Exchange, Aisha Abdulaziz, Chris Pitan