Five Nigerian corporates issued commercial papers worth N215 billion in order to improve their balance sheet and scale up their operations during the month of August 2022.
Major deals consummated in the Nigerian corporate scene with emphasis on companies that have their major operations in the country or with significant interest in Nigeria.
Below is a compilation of deals announced during the month. The information was sourced from FMDQ, news reports, press releases amongst other reliable sources.
Nigerian Breweries Plc issued N100.00 billion
FMDQ Exchange through its Board Listings and Markets Committee, during the month, approved the registration of the Nigerian Breweries Plc N100.00 billion Commercial Paper (CP) Issuance Programme on its platform in August 2022.
- Nigerian Breweries Plc is the pioneer and largest brewing company in Nigeria, engaged in the making and selling of lager, stout, non-alcoholic malt, and soft drinks. Nigerian Breweries operates over ten breweries and approximately two malting plants across the country.
- According to Nigerian Breweries “through the registration of the CP Programme, which is sponsored by Stanbic IBTC Capital Limited (the Lead Sponsor), FCMB Capital Markets Limited and FBNQuest Merchant Bank Limited, all Registration Member (Quotations) of the Exchange, the Issuer is availed the opportunity to raise short-term finance from the Nigerian debt markets at a time it deems suitable, through CP issuances, within the CP Programme limit”.
C & I Leasing Plc registered N50.00 billion
FMDQ Securities Exchange Limited during the period under review announced the approval of the registration of the C & I Leasing Plc N50.00 billion Commercial Paper (CP) Programme on its platform.
- C & I Leasing Plc is a diversified, leasing and business service conglomerate providing support services to various indigenous and multinational organisations in West Africa along three (3) lines: Fleet Management, Personnel Outsourcing, and Marine Service.
- The company provides transportation logistics solutions in the form of car and marine vessel rental, fleet management and automobile distribution through its wholly owned subsidiaries: C & I Marine, C & I Fleet Management, C & IOutsourcing, and CITRACKS.
- The company said: “The successful registration of the CP Programme, which is sponsored by Cordros Capital Limited (the Lead Sponsor), and Kairos Capital Limited, both Registration Member (Quotations) of the Exchange, tactically positions the Issuer to raise short-term finance from the Nigerian debt markets at strategically viable times during the CP Programme validity, through CP issuances, within the CP Programme limit.”
CitiTrust Holdings Plc issued N50 billion
FMDQ Securities Exchange Limited welcomed the registration of the CitiTrust Holdings Plc N50.00 billion Commercial Paper (CP) Programme on its platform.
- The registration of this CP Programme on the Exchange in August 2022, following the approval of the Board Listings and Markets Committee, attests to the highly efficient time-to-market and uniquely tailored securities admission service offered by the Exchange.
- CitiTrust Holdings Plc is a Pan-African financial and investment conglomerate in Nigeria. This CP Programme registration, which is sponsored by Boston Advisory Limited – a Registration Member (Quotations) of the Exchange – strategically positions CitiTrust Holdings to raise short-term finance easily and quickly from the Nigerian debt markets.
- The company said: “By the registration of its CP Programme and quotation of subsequent CPs from the Programme on FMDQ Exchange, the Company will avail on exceptional benefits which include, but are not limited to, unrivalled and efficient platform for access to capital, enhanced investor confidence, continuous information disclosure to protect investor interest, effective price formation, and increased global visibility”.
Sundry Foods Limited issued N10.00 billion
FMDQ Securities Exchange Limited through its Board Listings and Markets Committee, during the period under review approved the registration of the Sundry Foods Limited N10.00 billion Commercial Paper (CP) Issuance Programme on its platform in August 2022.
- Sundry Foods Limited is one of Nigeria’s leading food services companies, operating in the quick service restaurant, bakery, and catering segments. The Company has over one hundred and thirty (130) branches across Nigeria with a variety of franchises that include Kilimanjaro, Pizza Jungle, Nibbles Creamery, Nibbles Bakery, Kiligrill, and Sundry Foods Services.
- The company said: “The successful registration of the CP Programme, which is sponsored by CardinalStone Partners Limited (the Lead Sponsor), SCM Capital Limited and Stanbic IBTC Capital Limited, all Registration Member (Quotations) of the Exchange, strategically positions the Issuer to raise short-term finance from the Nigerian debt markets at specific times during the CP Programme validity it deems strategically viable, through CP issuances, within the CP Programme limit”.
- Speaking on the successful CP Programme registration, the Managing Director, Sundry Foods Limited, Mr. Ebele Enunwa stated “we remain committed to harnessing the full potential of Sundry Foods Limited and creating superior value to all our stakeholders. This is evident in the growth we have experienced in the past year, which has been as a result of visionary leadership and a defined growth strategy. We look forward to engaging market participants under this ₦10.00 billion CP Programme.”
Infinity Microfinance Bank issued N5.00 billion
Infinity Microfinance Bank Limited N5.00 billion CP Programme was admitted on the Exchange’s platform on August 24, 2022.
- Inifinity Microfinance Bank Limited is a financial establishment that focuses on small and medium-sized business enterprises and provides services such as the mobilisation of small savings and the provision of small business loans. This CP Programme which is sponsored by FSDH Capital limited – a Registration Member (Quotations) of the Exchange – will avail the Issuer of the opportunity to raise short-term finance from the Nigerian CP market.
- According to the Managing Director, Infinity Microfinance Bank Limited, Mr. Oludotun Adewunmi, “Infinity Microfinance Bank Limited is pleased to announce the quotation of its N5.00 billion Commercial Paper Issuance Programme on FMDQ Securities Exchange Limited.
- The CP Programme is an important strategic move for the Bank towards achieving its mandate of supporting the growth of low-income households as well as micro, small & medium-sized enterprises across Lagos State.
- The registration of this CP Programme, in addition to allowing Infinity Microfinance Bank broaden its sources of funding, has availed the Bank with a platform to raise short-term finance, within the CP Programme limit, from the Nigerian debt markets when it deems suitable”.