Investors in Nigeria’s debt market may notice TrustBanc Holdings Limited returning with a new offer.
The firm launched a ₦20 billion commercial paper issuance under its ₦100 billion programme.
Earlier, the Securities and Exchange Commission approved the programme in December 2025.
Market Return Opportunity
The offer opened on March 12 and will close on March 23. 2026.
Meanwhile, the company split it into two series with tenors of 268 days and 364 days.
The company priced both series at a discount with relatively high implied yields.
Specifically, Series 1 offers 21.0%, while Series 2 offers 23.5%.
These returns exceed yields on FGN Treasury Bills.
For instance, in March 2026, the 364-day Treasury bill yield stood at about 16.72%.
Track Record And Growth
This higher yield reflects added credit risk compared with government-backed securities.
Therefore, investors demand this premium when they lend to corporate issuers like TrustBanc.
TrustBanc actively participates in the short-term debt market.
Previously, it registered its programme with FMDQ Exchange in 2021.
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Since then, it has raised over ₦33 billion across multiple issuances.
Importantly, the company has repaid most of these obligations.
The company’s financial performance shows steady and consistent growth in recent years.
Notably, profit after tax reached ₦1.4 billion in 2025, nearly doubling year-on-year.
Rising interest income has driven this growth over time.
As a result, net interest income has increased steadily and supported overall earnings.
Balance Sheet And Risk View
On the balance sheet, total assets have grown to ₦117 billion.
In particular, financial assets account for more than 78% of the total asset base.
Shareholders’ funds make up about 21% of the balance sheet size.
Thus, the company relies on both equity and borrowed funds to support operations.
Recently, DataPro upgraded TrustBanc’s long-term rating to A+ with a stable outlook.
At the same time, it maintained a short-term rating of A1.
These ratings suggest a strong capacity to meet short-term financial obligations.
Consequently, they support investor confidence in the current issuance.
For investors, the offer presents higher returns alongside higher credit exposure.
Ultimately, each investor must weigh the risks against confidence in TrustBanc’s financial strength.
