FMDQ supports infrastructure development, registers Julius Berger’s N30bn CP Programme

FMDQ Securities Exchange Limited, through its Board Listings and Markets Committee, has approved the registration of Julius Berger Nigeria Plc’s N30.00 billion CP Programme on the Exchange.

This feat demonstrates FMDQ Exchange’s positioning as the preferred platform for debt securities and further reinforces the Exchange’s commitment to enhancing access to capital for infrastructure development for the good of the Nigerian economy at large, through its credible and transparent platform.

Julius Berger Nigeria PLC is a Nigerian company offering holistic services such as planning, design, engineering, construction, operation and maintenance of buildings, infrastructure and industry projects.

According to FMDQ, the CP Programme, which is sponsored by Stanbic IBTC Capital Limited and FCMB Capital Markets Limited, both Registration Members of FMDQ Exchange, would avail the Issuer, the opportunity to raise short-term finance from the Nigerian debt markets through CP issuances within the programme limit.

The Managing Director, Julius Berger, Dr Lars Richter, commented on the successful CP Programme registration, stating “Julius Berger is pleased to have completed the establishment of its N30.00 billion CP Issuance Programme on FMDQ Exchange.

“The establishment of the CP Programme will enhance Julius Berger’s long-term strategy to boost financial flexibility and strengthen its competitive advantage in the construction sector. Issuance of commercial papers will support the Company’s short-term capital and funding requirements, enabling the Company to diversify funding sources and unlock more value for stakeholders,” Richter said.

Equally speaking on the significance of the successful issuance, the lead sponsor of the CP Programme and a Registration Member of the Exchange, Stanbic IBTC Capital Limited, represented by its Chief Executive, Mr Funso Akere, said “Stanbic IBTC Capital Limited is pleased to have advised Julius Berger on the establishment of its inaugural N30.00 billion CP Issuance Programme, which will enable it to access competitively priced short-term funding from institutional investors. Julius Berger plans to issue CPs on various tenors under the Programme in order to optimise its funding costs and diversify its funding sources.”

Also, the co-sponsor of the CP Programme, FCMB Capital Markets Limited, through the Head, Debt Solutions, Mr Ikechukwu Omeruah, stated “FCMB Capital Markets Limited is pleased to have acted as co-sponsor to the registration of Julius Berger’s debut CP Programme on FMDQ Exchange. Julius Berger is a household name in the Nigerian lexicon, playing a prominent role in the development of the country’s infrastructure. The establishment of the CP Programme provides a platform for the Company to diversify sources of debt funding to include non-bank investors, thereby increasing resources available for strategic planning while also reducing the average cost of borrowing.”

FMDQ Group is Africa’s first vertically integrated financial market infrastructure 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 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.

ALSO READ FROM NIGERIAN TRIBUNE 

• 47.5 Million People Worldwide Suffer Dementia ― Expert

• Kunle Afolayan: The Camera Of A Master Craftsman

• Allow State Security Outfits To Bear Arms, Deji Of Akure Tells FG

• Insistence On Water Bill, Another Instance Of FG’s Insensitivity To Nigerians’ Plight ― Afenifere

• EDITORIAL: As Parties Begin 2023 Campaign