Fidson Healthcare enters debt market with N4.5bn CP on FMDQ Exchange
FMDQ Securities Exchange Limited says it has approved the quotation of the Fidson Healthcare Plc N4.50 billion Series 1 Commercial Paper under its N10.00 billion Commercial Paper Issuance Programme on its platform.
The Exchange said on Monday that corporate institutions had continued to explore alternative financing options by tapping the debt capital market to raise capital to sustain their business activities.
Speaking on the successful issuance of the CP, the Chief Financial Officer, Fidson Healthcare, Mr Imokha Ayebae, was quoted as saying the debut CP issuance would allow Fidson Healthcare broaden its sources of funding and lower our overall cost of borrowing.
He said it would also strengthen the company’s commitment to the vision of building sustainable brands that would foster its expansion and growth plans in the pharmaceutical industry across West Africa.
“We acknowledge the support of the investor community in ensuring the success of the CP issuance. We will continue to assure their confidence in us as we deliver on our objectives of innovation and development within the Nigerian healthcare space,” he added.
The Head, Investment Banking, FSDH Capital Limited – sponsor of the CP on the Exchange – Mr Taiwo Olatunji, said, “We are pleased that FSDH Capital Limited was hand-picked by Fidson Healthcare to act as sponsor and lead arranger on the company’s debut CP issuance.
“We believe that the CP issuance has provided the company with access to a wider pool of well-informed investors, increased liquidity and increased visibility within the Nigerian DCM.”
FMDQ Exchange said it would continue to lead the revolution in the development of the Nigerian DCM by providing credible market structures to corporate and commercial businesses with the opportunities to meet their short-term funding requirements, whilst building their profiles in the market.
FMDQ Exchange remains positive about the possibilities of the Nigerian DCM and will continue to implement, with the support of its stakeholders, initiatives to improve and make the Nigerian DCM Globally competitive, Operationally excellent, Liquid and Diverse, in line with its GOLD Agenda.
