• Monday, February 26, 2024
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Emerging Africa Capital repays Series 1 Commercial Paper

Emerging Africa Capital redeems N1.6bn Series 3 Commercial Paper

Emerging Africa Capital Limited has successfully redeemed the N1.13billion Series 1 Commercial Paper issued on November 1, 2022, on the Nigerian Debt Capital Market through FMDQ Securities Exchange Limited (FMDQ Exchange) platform under its N15billion Commercial Paper Issuance Programme (the Programme).

The 182 days Series I Commercial Paper was issued at a discount rate of 16.9400percent and achieved a 100percent subscription rate as a first-time issuer. this impressive subscription level demonstrates investors’ confidence in the company’s impressive profile and the ability of its management team to deliver value to its stakeholders.

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Speaking on the successful redemption of the CP, Toyin F. Sanni, Executive Vice Chairman/Group Chief Executive Officer of Emerging Africa Capital, stated: “The successful redemption of the N1.13billion Series 1 Commercial Paper reflects our company’s commitment to ensuring transparency and trustworthiness in maintaining investor confidence in the Nigerian Debt Capital Market”.

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.