By Peace Udugba — The Daily Torch Media
FMDQ Securities Exchange Limited has approved the quotation of ₦45.12 billion worth of Commercial Papers issued by CapitalSage Technology Limited under the company’s ₦75 billion Commercial Paper Programme.
The approval covers ₦4.29 billion Series 1, ₦3.33 billion Series 2 and ₦37.50 billion Series 3 Commercial Papers, providing CapitalSage with access to Nigeria’s debt capital market to support its funding requirements and strategic business initiatives.
The approval was granted by the Board Listings and Markets Committee of FMDQ Exchange, further highlighting the role of the Nigerian debt capital market in providing short-term financing opportunities for businesses.
CapitalSage Technology Limited is a technology company focused on providing solutions to businesses and consumers within Nigeria’s rapidly evolving digital economy.
The net proceeds from the Commercial Paper issuances will be used to support the company’s funding requirements and strategic initiatives, strengthening its capacity to expand its technology-driven solutions and contribute to the growth of Nigeria’s digital economy.
The issuance was sponsored by United Capital PLC as Lead Sponsor, alongside AIICO Capital Limited, Anchoria Advisory Services Limited, CFG Maynard Limited, Comercio Partners Capital Limited, Cordros Advisory Services Limited, Coronation Merchant Bank Limited, FCMB Capital Markets Limited, Investment One Financial Services Limited, Quantum Zenith Capital & Investments Limited and Regius Capital Limited as Co-Sponsors.
All the sponsors are Registration Members (Quotations) of FMDQ Exchange.
Commenting on the transaction, Tumi Sekoni, Group Chief Operating Officer, FMDQ Group PLC, said the successful quotation demonstrated the continued relevance of Nigeria’s debt capital market as a channel for businesses seeking short-term funding.
Sekoni said FMDQ Exchange remained committed to providing a transparent, efficient and credible platform through which businesses could access capital, strengthen their operations and contribute to Nigeria’s economic development.
Through its range of market services, FMDQ Exchange continues to facilitate access to financial markets, support capital formation and provide funding opportunities for businesses seeking to advance their strategic objectives.
FMDQ Group PLC is an integrated financial market infrastructure group providing services across the financial markets value chain, including registration, listing, quotation and noting services, trading platforms, clearing and settlement, securities depository services, and market data and information services.
Its subsidiaries include FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited, covering the debt capital, foreign exchange, derivatives and equity markets.
The Group also operates FMDQ Green Exchange, positioned as a platform for sustainable finance and green-market development in Africa.
Tags: FMDQ Exchange, CapitalSage Technology, Commercial Papers, ₦45.12bn, FMDQ, Nigerian capital market, debt capital market, Nigeria finance, United Capital, FMDQ Group.
