In a market where bold announcements often outrun delivery, one Nigerian manufacturer is letting its repayments do the talking. Polysmart Packaging Limited, Nigeria’s largest plastic recycling company, has fully paid the maturity amounts of its non-interest commercial paper (NICP) programme across series 1 to 4, a combined ₦5,711,405,308.33 in maturity payments, with Marble Advisory Limited acting as Lead Arranger and Financial Adviser.
The four series were issued between April and October 2025 under it’s ₦4bn programme. Series 1 (₦1,004,958,000.00) matured in October 2025. Series 2 (₦1,069,745,000.00) followed in January 2026, and Series 3 (₦1,118,704,500.00) in July 2026. The largest, Series 4 (₦2,517,997,808.33), was settled as well ahead of its maturity date October 21, 2026.
The NICP funded the working capital behind the company’s growth, and the timing gives credence to the Polysmart’s story. On October 29, 2026, Polysmart is set to fully commission a $60 million facility in Ogun State: Nigeria’s and Africa’s largest food-grade recycled PET (rPET) recycling plant. It will process 100,000 tonnes of mixed plastics a year, recycling more than 5.5 billion PET bottles annually.
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The facility will deploy world-class European technology, including EREMA, SOREMA and TOMRA systems, operating processes approved under the food-contact standards of the US Food and Drug Administration (FDA) and the European Food Safety Authority (EFSA). This will enable the production of food-grade rPET, HDPE, LLD and PP, reducing reliance on imported virgin plastic.
“Repaying all four series shows our investors that when Polysmart raises capital, it keeps its word. With the new plant coming onboard, that trust is what will carry us into our next phase of growth.” – Wasiu Bolaji Balogun, Managing Director, Polysmart Packaging Limited
For a capital market that is always asking whether funding flows into substance or hype, Polysmart offers a plain answer: a real-economy, asset-backed issuer that pays what it owes while it builds. “Polysmart has shown what a well-structured, non-interest CP programme can do for a real-economy company: fund growth and repay investors. We are proud to have advised on this transaction from the start, and to see it delivered with the discipline that gives the non-interest capital market its credibility.” – Akeem Oyewale, Director, Marble Advisory Limited
With four series cleared and the new plant launch, Polysmart enters its next phase with a proven record, a landmark asset and a capital-market experience built on trust