FMDQ Approves N45.12bn Commercial Papers for CapitalSage

FMDQ Approves N45.12bn Commercial Papers for CapitalSage

FMDQ Securities Exchange Limited has approved the quotation of N45.12 billion worth of Commercial Papers (CPs) issued by CapitalSage Technology Limited under the company’s N75 billion Commercial Paper Programme.

The approval, granted by the Exchange’s Board Listings and Markets Committee, comprises N4.29 billion Series 1, N3.33 billion Series 2 and N37.50 billion Series 3 Commercial Papers.

The transaction provides CapitalSage with access to Nigeria’s debt capital market to meet its funding requirements and support its strategic business objectives.

CapitalSage Technology Limited is a technology company providing solutions to meet the evolving needs of businesses and consumers within Nigeria’s growing digital economy.

The net proceeds from the Commercial Paper issuances will be used to support the company’s funding requirements and strategic initiatives, strengthening its capacity to expand its technology-driven solutions and contribute to the development of Nigeria’s digital economy.

United Capital PLC is the Lead Sponsor of the transaction, while AIICO Capital Limited, Anchoria Advisory Services Limited, CFG Maynard Limited, Comercio Partners Capital Limited, Cordros Advisory Services Limited, Coronation Merchant Bank Limited, FCMB Capital Markets Limited, Investment One Financial Services Limited, Quantum Zenith Capital & Investments Limited and Regius Capital Limited are the Co-Sponsors.

All the sponsors are Registration Members (Quotations) of FMDQ Exchange.

Commenting on the quotation, Group Chief Operating Officer of FMDQ Group PLC, Ms. Tumi Sekoni, said the successful quotation demonstrated the continued relevance of Nigeria’s debt capital market as a source of short-term financing for businesses.

She said FMDQ Exchange remained committed to providing a transparent, efficient and credible platform through which businesses could access capital, strengthen their operations and contribute to economic growth.

“FMDQ Exchange remains committed to providing a transparent, efficient and credible platform that enables businesses to access capital, strengthen their operations and contribute meaningfully to the growth and development of Nigeria’s economy,” Sekoni said.

The Exchange said its range of market services continued to provide participants with efficient access to financial markets while facilitating capital formation and enabling businesses to optimise funding opportunities.

FMDQ Group PLC is an integrated financial market infrastructure group providing services across the financial markets value chain.

It’s subsidiaries include FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited.

The Group provides services covering registration, listing, quotation and noting; trading platforms; clearing and central counterparty services; settlement; securities depository services; and market data and information across the debt capital, foreign exchange, derivatives and equity markets.

FMDQ Group, through FMDQ Exchange, also operates the FMDQ Green Exchange, which focuses on supporting sustainable finance and the transition towards a more sustainable economy.