Emerging Africa Capital redeems N1.7bn Series 3 CP

EMERGING Africa Capital Limited has redeemed its N1.655 billion Series 3 Commercial Paper, which was issued on July 12, 2023 on the Nigerian Debt Capital Market through FMDQ Securities Exchange Limited (FMDQ Exchange) platform, under its N15 billion Commercial Paper Issuance Programme.

The 180-day Series 3 Commercial Paper was issued at a discount rate of 13.0982 percent and achieved a 125 percent over-subscription rate, showcasing the confidence of investors in the company’s impressive profile and the ability of its management team to deliver value to its stakeholders.

Toyin Sanni, Executive Vice Chairman/Group Chief Executive Officer of Emerging Africa Capital Limited, expressed her satisfaction with the successful redemption of the N1.655 billion Series 3 Commercial Paper.

She stressed the company’s commitment to transparency and trustworthiness in maintaining investor confidence in the Nigerian Debt Capital Market.

The GCEO extended her gratitude to all investors for their trust and confidence in the company, while assuring them of the continued delivery of substantial value to stakeholders.

Emerging Africa Capital Limited, a leading investment banking and financial services company licensed by the Securities and Exchange Commission (the SEC), provides Issuing House/Underwriting, Trust, and Asset Management services.

The company takes pride in creating value for stakeholders through direct equity investments in subsidiary companies and by arranging/facilitating debt and equity capital financing for clients.

Kolawole Epebinu, Team Lead, Debt Capital Market, expressed confidence in Emerging Africa Capital Limited’s ability to fulfill its obligations to subscribers, noting the significance of the successful redemption of the Series 3 Commercial Paper through FMDQ Exchange.