By Kayode Tokede
FMDQ Securities and Exchange Limited (FMDQ Exchange) has admitted quotation of the Eunisell Ltd. N3.50 billion Series 1 Commercial Paper (CP), under its N10 billion Programme platform.
The Managing Director, Eunisell Ltd., Mr. Chika Ikenga, disclosed this in a statement on Thursday in Lagos.
Ikenga said Eunisell Ltd. CP would be availed a host of benefits.
The benefits include, but not limited to global visibility, transparency, credible price formation, and continuous information disclosure, through FMDQ Exchange’s website, systems and the FMDQ Daily Quotations List.
He said proceeds from the issuance would be used to support Eunisell Ltd’s general corporate purposes and short-term funding requirements.
“The Series 1 N3.50 billion CP represents a strategic milestone in Eunisell Ltd.’s broad funding plan.
“This issuance will help the company meet its short-term funding needs, thus supporting our near-term growth aspirations.”
The sponsor of the CP on FMDQ Exchange, Vetiva Capital Management Ltd., was represented by Dr Gbadebo Adenrele, Director/Head, Investment Banking.
He said the company was grateful for the opportunity to have partnered with Eunisell Ltd., acting as the Lead Arranger to the company on its N3.50 billion Series 1 CP Issuance, under its N10 billion CP programme.
“The robust participation by institutional investors in this debut issuance by Eunisell Ltd. demonstrates confidence in the company’s vision and management team.
“This issuance will enable Eunisell Ltd. meet its short-term funding needs and pave the way for further capital market activities in the near-to-medium term,” he said.
FMDQ Exchange, through consistent collaboration with its stakeholders, continued to deepen and effectively position the Nigerian debt markets for growth in support of the realisation of a globally competitive and vibrant economy.
FMDQ Group is Africa’s first vertically integrated financial market infrastructure group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparts.
Others were settlement and risk management for financial market transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets.