FMDQ Exchange has announced the approval of the registration of the C & I Leasing PLC of N50 billion Commercial Paper (CP) programme on its platform.
Corporate institutions continue to successfully tap the Nigerian debt markets to access stable finance to fund key activities in their organisations.
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The commercial paper market, as administered by FMDQ Securities Exchange Limited, provides 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 PLC (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 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, which is sponsored by Cordros Capital Limited (the Lead Sponsor), and Kairos Capital Limited, both Registration Member (Quotations) of the Exchange, tactically positions the Issuer to raise short-term finance from the Nigerian debt markets at strategically viable times during the CP Programme validity, through CP issuances, within the CP Programme limit.
With a vision to be “the most attractive Exchange in Africa by 2025”, FMDQ Exchange 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.
