By Chioma Obinagwam
In a bid to demonstrate its commitment to enhancing access to capital for real estate development, for the good of the Nigerian economy at large, FMDQ Exchange, through its Board Listings and Markets Committee approved the registration of the Veritasi Homes & Properties Limited ₦10.00 billion Commercial Paper (CP) Programme on its platform.
Confiance News gathered from a statement on Friday.
FMDQ said that Veritasi Homes & Properties Limited (the “Issuer”) is a premium real estate company providing marketing, advisory and developmental services across the real estate value chain in Nigeria. The company’s vision is to be a world-class real estate development company driven by value innovation and optimum service to deliver affordable homes.
It added that the CP programme positions the Issuer to raise finance for a tenor up to 270 days from the debt market at a time in the future it deems suitable. The registration of this CP Programme on the Exchange endorses FMDQ Exchange’s role as a market organiser and lends credence to its reputation of pioneering innovation within the Nigerian financial markets.
Speaking on the successful CP Programme registration, the Managing Director, Veritasi Homes & Properties Limited, Mr. Nola Adetola, stated “Veritasi Homes & Properties Limited is delighted with the successful registration by FMDQ Exchange of our ₦10.00 billion CP Programme. The approval of this CP Programme represents a significant milestone in our short term growth aspirations. We are delighted that the proceeds from the issuance of the CP will be applied to develop superior real estate projects designed for clients at home and in the diaspora. We want to thank Mega Capital Financial Services Limited, the transaction sponsor, and Pathway Advisors Limited, our financial adviser, for their efforts and professionalism in getting this programme approved. Our commitment as a brand to building a trustworthy business remains, and we look forward to other future engagements with the capital market.
Also, the sponsor of the CP Programme and a Registration Member (Quotations) of FMDQ Exchange, Mega Capital Financial Services Limited, through the Managing Director, Mr. Emmanuel Egbumokei, mentioned that “Mega Capital Financial Services Limited is pleased about its role as Sponsor of the registration of the Veritasi Homes & Properties Limited’s ₦10.00 billion CP Programme and its plans on the subsequent issues under the Programme. Veritasi Homes & Properties Limited is a real estate development company with focus on creating homes for both the low and middle-income earners in Nigeria. This approved CP Programme will enable Veritasi Homes & Properties Limited access funding from the debt capital markets to actualise its strategic objectives.”
In accordance with its strategic objectives to provide credible market structures to corporate and commercial businesses with the opportunities to meet their short-term funding requirements, FMDQ has continued to demonstrate its commitment by championing key market development initiatives to ensure that growth and development opportunities abound for the markets under its purview.
FMDQ Group PLC 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.
Leave a comment