Categories: Business

FMDQ Exchange admits Dufil Prima Foods Plc N30bn Series 5 & 6 CP

Following the due diligence process, the FMDQ Securities Exchange Limited has announced the approval of the Dufil Prima Foods PLC N8.00 billion Series 5 and N22.00 billion Series 6 Commercial Papers (CPs) under its N30.00 billion CP Issuance Programme on its platform.

Dufil Prima Foods PLC is a consumer food manufacturing company based in Nigeria and a subsidiary of Tolaram Group, that manufactures and distributes food products such as instant noodles, vegetable cooking oil, baking flour, amongst others.

According to a statement by FMDQ Exchange, the quotation of these CPs, which are sponsored by Stanbic IBTC Capital Limited, a Registration Member of the Exchange, strategically positioned Dufil to raise short-term finance easily and quickly from the Nigerian Debt Capital Market (DCM).

The proceeds from these CPs would be used to refinance the food giant’s short-term debt obligation as well as support its working capital.

As more corporate institutions continue to tap the CP market to meet their short-term funding needs and liquidity requirements, FMDQ Exchange has remained relentless in taking the necessary steps towards promoting transparency, governance, integrity and efficiency in the Nigerian CP market and overall debt capital market.

FMDQ Exchange in the statement noted it would, through the championing of key market development initiatives, take commendable steps to support the realisation of a globally competitive financial market and vibrant economy.

FMDQ Securities Exchange Limited, a wholly owned subsidiary of FMDQ Group PLC (FMDQ Group), has continued to work collaboratively with market stakeholders to ensure that growth and development opportunities abound for the markets under its purview.

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 and 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.

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