FMDQ Securities and Exchange Limited (FMDQ Exchange) has admitted quotation of the Eunisell Limited N3.50 billion Series 1 Commercial Paper (CP) under its N10 billion CP Programme on its platform.
The Managing Director, Eunisell Limited, Mr Chika Ikenga, disclosed in a statement on Thursday in Lagos.
Ikenga said Eunisell Limited CP would be availed a host of benefits, including, 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 the proceeds from the issuance would be used to support Eunisell Limited’s general corporate purposes and short-term funding requirements.
“The Series 1 N3.50 billion CP represents a strategic milestone in Eunisell Limited’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 Limited, represented by Dr Gbadebo Adenrele, Director/Head, Investment Banking, said the company was grateful for the opportunity to have partnered with Eunisell Limited, 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 Limited demonstrates confidence in the Company’s vision and management team.
“This issuance will enable Eunisell Limited 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, continues 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 counterparty, 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.