C & I Leasing Registers N50bn CP Programme on FMDQ

FMDQ recently announced the Exchange’s approval for C & I Leasing’s registration of a ₦50.00 billion Commercial Paper (CP) Programme.

The commercial paper market, as administered by FMDQ Securities Exchange Limited provide issuers renewed opportunities to grow their businesses and maintain the much-needed restored confidence of investors, whilst contributing to the overall growth of the Nigerian economy.

The successful registration of this CP Programme, which is sponsored by Cordros Capital Limited (the Lead Sponsor), and Kairos Capital Limited, both registration member (Quotations) of the Exchange, tactically positions the Issuer to raise short-term finance from the Nigerian debt markets at strategically viable times during the CP Programme validity, through CP issuances, within the CP Programme limit.

Commenting on the development, Managing Director/Chief Executive Officer of C & I leasing, Ugoji Lenin Ugoji, remarked that the development and the issuance of subsequent series will not only help the company meet its short-term working capital and funding requirements, but strengthen its commitment to impacting the economy greatly through continued provision of diversified support services to various indigenous and multinational organisations across West Africa.

FMDQ reiterated its commitment to continue to lead the transformation of the Nigerian debt markets by providing a cost-effective, efficient, well-regulated, transparent, and trusted platform for capital raising, whilst adding value to its diverse stakeholder groups with its vision of becoming ‘the most attractive Exchange in Africa by 2025’.