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Emerging Africa Capital redeems N1.86bn series II Commercial Paper

Emerging Africa Capital commercial paper issuances record 125% subscription

Emerging Africa Capital Limited (EACL) has successfully redeemed the N1.86 billion series II Commercial Paper (CP) it issued on November 1, 2022.
The CP under its N15 billion Commercial Paper Issuance Programme (the Programme) was issued on the Nigerian Debt Capital Market through FMDQ Securities Exchange Limited (FMDQ Exchange) platform.

The 269 days Series II Commercial Paper was issued at a discount rate of 17.4300 percent and achieved a 100 percent subscription rate as a first-time issuer.

This subscription level shows investors’ confidence in the company’s impressive profile and the ability of its management team to deliver timely value to its stakeholders.

Speaking on the successful redemption of the CP, Toyin F. Sanni, executive vice chairman/group Chief Executive Officer, Emerging Africa Capital stated, “The successful redemption of the N1.86billion Series 2 Commercial Paper reflects the Company’s commitment to ensuring transparency and trustworthiness in maintaining investor’s confidence in the Nigerian Debt Capital Market”.

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She further expressed her gratitude to all investors for their trust and confidence in the Company and promised to continue to deliver substantial value to its stakeholders.

Emerging Africa Capital Limited is a leading Investment Banking and Financial Services company licensed by the Securities and Exchange Commission (the SEC) to provide Issuing House/Underwriting, Trust, and Asset Management services.

The Company prides itself in creating value for stakeholders through a combination of direct equity investments in our subsidiary companies and by arranging/facilitating debt and equity capital financing for our clients.