By Chioma Obinagwam
C&I Leasing has successfully registered its ₦50.00 billion Commercial Paper (CP) on FMDQ Securities Exchange Limited.
Confiance News sighted in statement from the Exchange on Thursday.
“FMDQ Exchange is pleased to announce the approval of the registration of the C & I Leasing PLC ₦50.00 billion Commercial Paper (“CP”) Programme on its platform,” it disclosed in the statement.
FMDQ further stated that C & I Leasing PLC which is 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, the statement continued, 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. The Exchange will also continue to sustain its efforts in supporting issuers with tailored financing options to enable them to achieve their strategic objectives, as well as deepen and effectively position the Nigerian debt markets for global competitiveness.
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, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.
