FMDQ Exchange Admits Dufil N30bn Series 5&6 CPs

Following the due diligence process, FMDQ Securities Exchange Limited (FMDQ Exchange) has announced the approval of the Dufil Prima Foods PLC (Dufil) N8.00 billion Series 5 and N22.00 billion Series 6 Commercial Papers (CPs) under its N30.00 billion CP Issuance Programme on its platform.

Dufil is a consumer food manufacturing company based in Nigeria and a subsidiary of Tolaram Group, which manufactures and distributes food products such as instant noodles, vegetable cooking oil, and baking flour, amongst others.

The quotation of these CPs, which are sponsored by Stanbic IBTC Capital Limited – a Registration Member (Quotations) of the Exchange, strategically positions Dufil to raise short-term finance easily and quickly from the Nigerian debt capital market (DCM).

The proceeds from these CPs will be used to refinance the food giant’s short-term debt obligation as well as support its working capital.

As more corporate institutions continue to tap the CP market to meet their short-term funding needs and liquidity requirements, FMDQ Exchange has remained relentless in taking the necessary steps toward promoting transparency, governance, integrity and efficiency in the Nigerian CP market and overall debt capital market.

FMDQ Exchange will, through the championing of key market development initiatives, take commendable steps to support the realisation of a globally competitive financial market and vibrant economy.