The Nigerian Commercial Papers (CP) market continues to provide issuers with renewed opportunity to grow their businesses and restore investors’ confidence, simultaneously contributing to the overall development of the Nigerian debt capital market (DCM).
In support of the development, FMDQ Securities Exchange Limited (FMDQ Exchange), through its Board Listings and Markets Committee, has approved the registration of the Viathan Funding PLC ₦20 billion CP Programme.
Viathan Funding is a special purpose vehicle established by Viathan Engineering Limited, to raise capital from the Nigerian DCM, the Exchange said in a statement yesterday.
Viathan Engineering Limited is an integrated energy services solutions company in Nigeria that specialises in captive and embedded power generation, providing modular, scalable power-as-a-service to end users, government agencies, industrial and commercial services, amongst others.
We remain steadfast in our objective to unlock value for our stakeholders, as we develop the requisite infrastructure to facilitate generation, distribution of uninterrupted, environmentally clean electricity, and to accelerate gas utilisation in Nigeria.
Speaking on the successful CP Programme registration, the Co-Founder/CEO, Viathan Funding, Habeeb Alebiosu, said the registration of the ₦20 billion CP Programme is another step towards positioning the company as a leading player in the integrated energy vertical.
“As we look to consolidate on our growth thus far, access to capital in the form of liquidity support instruments is crucial. This CP is a strategic funding initiative which will enable the much-needed agility required for containing lead times associated with infrastructure projects.
“We remain steadfast in our objective to unlock value for our stakeholders, as we develop the requisite infrastructure to facilitate generation, distribution of uninterrupted, environmentally clean electricity, and to accelerate gas utilisation in Nigeria.”
FBNQuest Merchant Bank Limited is the sponsor of the CP Programme and a Registration Member (Quotations) of the Exchange.
Commenting, the Head, Capital Markets, Oluseun Olatidoye, said: “FBNQuest Merchant Bank Limited is pleased about its role as Lead arranger on the registration of Viathan Funding PLC CP Programme under the ₦20 billion Programme. Funds raised under this programme will be utilised to meet the working capital needs of Viathan Funding PLC.”
The registration of this Programme on FMDQ Exchange’s platform demonstrates its continued commitment to project the DCM as the key source of finance for infrastructure and economic development in Nigeria.
FMDQ Exchange remains unwavering in its pursuit of product and market innovation as well as stakeholder engagement, towards making the Nigerian financial market globally competitive, operationally excellent, liquid, and diverse, in line with its GOLD Agenda.
FMDQ Group is Africa’s first vertically integrated financial market infrastructure group, and strategically positioned through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited, to provide varied financial services to companies seeking alternative funding.
