Sycamore expands access to short-term capital with quotation of N6.89bn Commercial Papers on FMDQ Exchange

FMDQ Securities Exchange Limited has approved the quotation of Sycamore Integrated Solutions Limited’s N1.82 billion Series 1 Tranche A and N5.07 billion Series 1 Tranche B Commercial Papers (CPs) under its N20billion CP Programme.

This approval by the Exchange’s Board Listings and Markets Committee further reflects FMDQ Exchange’s commitment to fostering an efficient, transparent, and resilient debt capital market that connects issuers with capital and supports sustainable economic growth.

The net proceeds from these CP issuances, sponsored by BAS Capital Limited, a Registration Member (Quotations) of FMDQ Exchange, will be deployed to strengthen the Issuer’s working capital base, support the growth of its lending portfolio, and enhance its capacity to deliver its financial service offerings to emerging market segments.

Sycamore Integrated Solutions Limited (Sycamore) is a technology-driven financial services company dedicated to delivering innovative, accessible, and transparent credit and digital financial solutions to individuals and businesses across Nigeria.

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By leveraging its proprietary technology infrastructure, Sycamore provides a suite of credit products that support financial inclusion and economic activity.

Tumi Sekoni, Group Chief Operating Officer, FMDQ Group Plc said, “The quotation of Sycamore Integrated Solutions Limited’s Series 1 Tranche A and B Commercial Papers on FMDQ Exchange reflects the confidence of Nigeria’s corporate sector in the depth and integrity of our platform”.

“At FMDQ Exchange, we remain committed to enabling businesses of all sizes to access the capital markets efficiently and transparently, and Sycamore’s presence on our platform is a testament to the growing vibrancy of Nigeria’s short-term capital markets. We are pleased to support Sycamore as it advances its growth ambitions and expands access to financial solutions that contribute to economic development and financial inclusion,” she said.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.