Guinness Nigeria Plc plans to list its N7.23 bn Series 2 and N2.77 bn Series 3 commercial paper issues on the FMDQ OTC securities exchange on the 18th of February 2016.
The planned listing follows the successful issuance of the 182day Series 2 and 268 day Series 3 issues on 4 November 2015.
Standard Chartered Bank acted as issuing, Calculating and Paying Agent on the Commercial Paper issuance, while Stanbic IBTC Capital Limited and Standard Chartered Capital & Advisory Nigeria Limited acted as Joint Arrangers on the Commercial Paper issuance.
Guinness Nigeria took this milestone initiative as the first non-financial institution to establish a CP Program following the guidelines on Commercial Paper published by the Central Bank of Nigeria in 2009.
Our decision to list the notes on the FMDQ is to increase the visibility which will in turn lead to increased demand for future issues.
PATRICK ATUANYA
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