FMDQ Exchange admits Dufil Prima Foods N30bn Series 5, 6 Commercial Papers

FMDQ Securities Exchange Limited (FMDQ Exchange) has announced the approval of the Dufil Prima Foods Plc N8billion Series 5 and N22billion Series 6 Commercial Papers (CPs) under its N30billion CP Issuance Programme on its platform.

FMDQ Exchange continues to work collaboratively with market stakeholders to ensure that growth and development opportunities abound for the markets under its purview.

Dufil Prima Foods Plc is a consumer food manufacturing company based in Nigeria and a subsidiary of Tolaram Group, which manufactures and distributes food products such as instant noodles, vegetable cooking oil, baking flour, amongst others.

The quotation of these CPs, which are sponsored by Stanbic IBTC Capital Limited – a Registration Member (Quotations) of the Exchange, strategically positions Dufil to raise short-term finance easily and quickly from the Nigerian debt capital market (DCM). The proceeds from these CPs will be used to refinance the food giant’s short-term debt obligation as well as support its working capital.

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As more corporate institutions continue to tap the CP market to meet their short-term funding needs and liquidity requirements, FMDQ Exchange has remained relentless in taking the necessary steps towards promoting transparency, governance, integrity and efficiency in the Nigerian CP market and overall debt capital market. FMDQ Exchange will, through the championing of key market development initiatives, take commendable steps to support the realisation of a globally competitive financial market and vibrant economy.

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