FMDQ registers CitiTrust, C&I Leasing into its CP programme

IN another remarkable achievement that continues to shape the world of corporate debt financing and testifies to the unique and credible platform for the registration, listing, quotation and trading of debt securities provided by FMDQ Securities Exchange Limited, the Exchange has registered CitiTrust Holdings Plc and C&I Leasing Plc intorespective N50.00 billion Commercial Paper (CP) Programme on its platform.

The successful registration of this CP Programme on the Exchange in August 2022, following the approval of the Board Listings and Markets Committee, attests to the highly efficient time-to-market and uniquely tailored securities admission service offered by the Exchange.

This significant milestone for CitiTrust Holdings Plc, a leading Pan-African financial and investment conglomerate in Nigeria, has seen it join other corporate institutions across various sectors of the economy, enjoying the benefits of visibility, transparency and liquidity for issuers and issues that come with the FMDQ Exchange Quotations Service.

This CP Programme registration, which is sponsored by Boston Advisory Limited – a Registration Member (Quotations) of the Exchange – strategically positions CitiTrust Holdings to raise short-term finance easily and quickly from the Nigerian debt markets.

C & I Leasing Plc is a diversified, leasing and business service conglomerate providing support services to various indigenous and multinational organisations in West Africa along three (3) lines: Fleet Management, Personnel Outsourcing, and Marine Service. The company provides transportation logistics solutions in the form of car and marine vessel rental, fleet management and automobile distribution through its wholly owned subsidiaries: C & I Marine, C & I Fleet Management, C & IOutsourcing, and CITRACKS. The successful registration of this CP Programme, which is sponsored by Cordros Capital Limited (the Lead Sponsor), and Kairos Capital Limited, both Registration Member (Quotations) of the Exchange, tactically positions the Issuer to raise short-term finance from the Nigerian debt markets at strategically viable times during the CP Programme validity, through CP issuances, within the CP Programme limit.

By the registration of their CP Programme and quotation of subsequent CPs from the Programme on FMDQ Exchange, both companies will avail on exceptional benefits which include, but are not limited to, unrivalled and efficient platform for access to capital, enhanced investor confidence, continuous information disclosure to protect investor interest, effective price formation, and increased global visibility.

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 & 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 sustainabilityfocused 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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