FMDQ Exchange has announced the approval of the registration of the C & I Leasing PLC ₦50 billion Commercial Paper (CP) Programme on its platform.
The Exchange noted that the commercial paper market continues to 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.
C & I Leasing (the Issuer) is a diversified, leasing and business service conglomerate providing support services to various indigenous and multinational organisations in West Africa along three lines: Fleet Management, Personnel Outsourcing, and Marine Service.
The company also provides transportation logistics solutions in the form of car and marine vessel rental, fleet management and automobile distribution through its wholly owned subsidiaries: C & I Marine, C & I Fleet Management, C & I Outsourcing, and CITRACKS.
The successful registration of this CP Programme, tactically positions the company to raise short-term finance from the Nigerian debt markets at strategically viable times through issuances, within the Programme limit.
The CP Programme is sponsored by Cordros Capital Limited (the Lead Sponsor), and Kairos Capital Limited, both Registration Member (Quotations) of the Exchange.
With a vision to be “the most attractive Exchange in Africa by 2025”, FMDQ Exchange said it will 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.
The Exchange added that it will also continue to sustain efforts in supporting issuers with tailored financing options to enable them to achieve their strategic objectives, as well as deepen and effectively position the Nigerian debt markets for global competitiveness.
The commercial paper market continues to 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.
