FMDQ Securities Exchange Limited has approved the quotation of C & I Leasing Plc’s N18.90 billion Series 1 Commercial Paper (CP) under its N50.00 billion CP Issuance Programme on its platform.
FMDQ in a release said, the proceeds from this CP issuance will be utilised to meet the working capital requirements and finance its operational activities in support of its strategic growth objectives.
Speaking on the CP quotation, the group chief operating officer, FMDQ Group, Tumi Sekoni stated, “the quotation of C & I Leasing PLC’s Series 1 Commercial Paper on FMDQ Exchange reflects the continued growth of Nigeria’s capital markets and affirms the confidence that corporates place in the Exchange as the preferred platform for short-term capital mobilisation.
“This transaction underscores the Exchange’s commitment to providing an efficient, transparent, and credible marketplace that enables businesses to meet their financing needs while supporting sustainable economic growth and development in Nigeria.”
The director, Cordros Advisory Services Limited, Wale Agbeyangi, stated, “we are pleased to have once again partnered with C & I Leasing on this CP issuance, continuing a relationship that has seen us support several of the company’s capital-raising initiatives over the years. This transaction reflects both the strength of C & I Leasing’s business and sustained investor confidence in the Company.”
Also, the acting managing director, Anchoria Advisory Services Limited, Damilola Titiladunayo, stated, “this transaction underscores investor confidence in C & I Leasing’s business fundamentals and demonstrates the continued relevance of the CP market as an efficient funding platform for leading corporate.
“Having supported C & I Leasing across several capital market transactions over the years, we are delighted to witness the Company’s continued growth and market success. This reflects Anchoria Advisory’s commitment to partnering with clients throughout their capital market journey, providing strategic guidance and long-term support as they evolve into established and trusted market participants.”
Reacting to the CP quotation, the GMD/CEO, C & I Leasing, Ugoji Ugoji, noted that the successful completion of our N18.9 billion CP issuance demonstrates the market’s continued confidence in the strength, resilience and growth potential of C & I Leasing.”
The successful quotation of this CP reflects sustained investor confidence in well-structured short-term fixed income instruments and underscores the Issuer’s robust operational framework. It also demonstrates the capacity of the Nigerian capital markets to mobilise short-term financing for key sectors of the economy, setting a positive precedent for future issuances and encouraging more corporates to leverage the capital markets for their funding needs.
C & I Leasing Plc is a leasing and fleet management company in Nigeria, with operations spanning automobile leasing, marine services, and outsourcing solutions.