• Tuesday, June 18, 2024
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Fast Credit redeems series 4 commercial paper

Coronation Group eyes N8bn from Series 1 & 2 Commercial Papers issuance

Fast Credit Limited has further solidified its financial strength and commitment to investors with the timely redemption of its Series 4 Commercial Paper issuance.

This accomplishment comes on the heels of the company’s successful redemptions of Series 1, 2, and 3, solidifying their reputation for financial responsibility.

According to the company, the commercial paper issuance attracted widespread attention from investors, with overwhelming demand surpassing initial projections, and obligations to investors on the 4 series were met in a timely fashion.

“This resounding success underscores investor confidence in Fast Credit’s robust business model, strategic vision, and commitment to excellence,” Fast Credit said.

The company also noted that the new developments sets a new benchmark for fintech investment, characterised by its innovative approach to capital markets and unwavering dedication to investor satisfaction.

“By leveraging cutting-edge technology and top-of-the-range practices, Fast Credit redefined the possibilities of commercial paper issuance, thereby driving efficiency, transparency, and accessibility,” Fast Credit said.

Findings showed the proceeds from the Series 4 issuance were used to boost Fast Credit’s market penetration plans, expanding infrastructure, fuelling investment in its digital banking business, and further strengthening its market position.

Fast Credit’s latest achievement, recognizing its ingenuity, resilience, and unwavering commitment to excellence. The successful payout of the Series 4 issuance underscores Fast Credit’s status as a market leader and reinforces its reputation as a trusted partner in the global financial ecosystem with a clear focus on driving sustainable value creation, Fast Credit is poised to unlock new opportunities and deliver long-term returns for its investors.

Emeka Iloelunachi, managing director of Fast Credit stated that Fast Credit will continue to chart new territories and push the boundaries of innovation and that the series 4 payout, and the successful completion of the commercial paper issuance serves as a testament to the company’s unwavering commitment to driving positive change and shaping the future of finance.

“In an era defined by rapid technological advancements and shifting market dynamics, Fast Credit’s successful commercial paper program stands as a testament to its resilience, agility, and unwavering commitment to excellence. As it embarks on the next phase of its journey, Fast Credit remains steadfast in its mission to redefine the possibilities in finance, leveraging technology and deliver lasting value to its investors, partners, and stakeholders alike,” the company said.