United Capital quotes N12.48bn series8 CP on FMDQ Exchange

In a move to further explore alternative financing options by tapping the debt capital market to sustain its business activities and plug capital shortfalls, United Capital PLC has quoted N12.48 billion Series 8 Commercial Paper (CP) under the FMDQ Securities Exchange Limited (FMDQ Exchange) N50.00 billion CP Issuance Programme on its platform.

This admission by the FMDQ Exchange followed an admission of 21 Commercial Papers valued at over N128.25 billion in 2022.

The proceeds from the quotation of this CP, which is co-sponsored by FSDH Capital Limited, UCML Capital PLC and NOVA Merchant Bank Limited – all Registration Member (Quotations) of FMDQ Exchange, will be used by the Issuer to finance short-term working capital requirements.

In line with its strategic objectives to support institutional growth and deliver prosperity to Nigerians, FMDQ Exchange will continue to demonstrate its commitment towards delivering a globally competitive, operationally excellent, liquid and diverse (“GOLD”) standard to the Nigerian DCM through the promotion and provision of a world-class quotation service, availing issuers and investors the much-needed global visibility, confidence and protection in the markets.

FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) 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, through its wholly-owned subsidiaries – FMDQ Exchange.

While United Capital PLC (“United Capital” or “the Issuer”) is a leading financial services Group focused on leveraging technology to empower businesses, individuals, and governments with excellent financial services.