TrustBanc pays maturing N4.2bn commercial paper proceeds | Dailytrust

TrustBanc pays maturing N4.2bn commercial paper proceeds

TrustBanc Holdings Limited (TrustBanc), the parent company of three regulated financial services companies has redeemed its series 3 Commercial Paper (CP) issue of N4.2 billion on Wednesday.

In a statement yesterday, the firm said the 180-day CP was issued at a discount of 12.6573 per cent with subscriptions by institutional investors including assets and fund managers.

“We confirm that the maturity proceeds of Commercial Paper(CP) bearing NGTRUCP22S34 on FMDQ has been duly paid to all the holders of the Series on the maturity date, March 2, 2022.”

Earlier in the year, TrustBanc announced the maturity and redemption of its debut Series 1 and 2Commercial Papers, bringing the total redemption under its N10bn Issuance Programme to N6.1bn.

“Once again, we are pleased to repay your trust and redeem our series 3 issue at its maturity. I would like to thank all the holders of this commercial paper issue. Their trust represents a strong mark of confidence in TrustBanc, its financial performance, its business model and growth strategy,” said Chief Executive Officer of TrustBanc Holdings Limited, Mr Abu Jimoh.

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