FMDQ Exchange admits Eunisell’s N3.50bn commercial paper
FMDQ Securities Exchange Limited has announced the quotation of the Eunisell Limited N3.50 billion Series 1 Commercial Paper under its N10.00 billion CP Programme on its platform.
Eunisell Limited is a chemical and specialty fluid management company, supplying key products and offering production solutions to a wide range of customers operating in Africa in the oil and gas, manufacturing, and automotive industries.
FMDQ Exchange said in a statement on Thursday that the CP would be availed a host of benefits, including global visibility, transparency, credible price formation, and continuous information disclosure, through its website, systems and the FMDQ Daily Quotations List.
It said the proceeds from the issuance would be used to support the issuer’s general corporate purposes and short-term funding requirements.
According to the statement, the CP was sponsored for quotation on the Exchange by Vetiva Capital Management Limited, a registration member of FMDQ Exchange.
Speaking on the successful CP issuance, the Managing Director, Eunisell Limited, Mr Chika Ikenga, said, “Eunisell Limited is pleased to notify the public of the issuance of its Series 1 CP on the FMDQ Exchange platform.
“The Series 1 N3.50 billion CP represents a strategic milestone in Eunisell Limited’s broad funding plan. This issuance will help the company meet its short-term funding needs, thus supporting our near-term growth aspirations.”
The Director and Head, Investment Banking, Vetiva Capital Management, Dr Gbadebo Adenrele, said, “Vetiva Capital Management Limited is grateful for the opportunity to have partnered with Eunisell Limited, acting as the lead arranger to the company on its N3.50 billion Series 1 CP Issuance under its N10.00 billion CP Programme.
“The robust participation by institutional investors in this debut issuance by Eunisell Limited demonstrates confidence in the company’s vision and management team. This issuance will enable Eunisell Limited to meet its short-term funding needs and pave the way for further capital market activities in the near-to-medium term.”
The Exchange said it had, through consistent collaboration with its stakeholders, continued to deepen and effectively position the Nigerian debt markets for growth in support of the realisation of a globally competitive and vibrant economy.
