FMDQ Exchange Approves CapitalSage N45B Commercial Papers

FMDQ Securities Exchange Limited on Tuesday approved the quotation of N45.12 billion Commercial Papers (CPs) for CapitalSage Technology Limited. This significant approval encompasses N4.29 billion Series 1, N3.33 billion Series 2, and N37.50 billion Series 3 CPs. These specific issuances are part of CapitalSage's broader N75 billion Commercial Paper Programme, designed to meet its diverse funding needs.

The approval by the Exchange’s Board Listings and Markets Committee reinforces FMDQ Exchange’s established role as a trusted platform for short-term capital market financing. This development provides CapitalSage with direct access to the Nigerian debt capital market, which is essential for supporting its funding requirements and strategic business objectives. CapitalSage is recognized as a technology company dedicated to delivering innovative solutions that support the evolving needs of businesses and consumers within Nigeria’s dynamic digital economy.

The substantial net proceeds derived from these N45.12 billion CP issuances are earmarked for deployment towards the Issuer’s critical funding requirements and strategic initiatives. This capital injection is specifically designed to further strengthen CapitalSage's capacity to deliver advanced technology-driven solutions across various sectors. Ultimately, this move aims to contribute significantly to the continued growth and development of Nigeria’s burgeoning digital economy.

Commenting on the quotation, Tumi Sekoni, Group Chief Operating Officer of FMDQ Group PLC, highlighted that the successful listing demonstrates the Nigerian debt capital market's enduring relevance as a vital channel for businesses to access short-term funding. FMDQ Exchange, through its comprehensive suite of services, remains committed to providing a transparent, efficient, and credible platform. This platform enables businesses to access capital, strengthen their operations, and contribute meaningfully to the growth and development of Nigeria’s economy.

The CP issuances were sponsored by United Capital Plc, serving as the Lead Sponsor, alongside a consortium of co-sponsors including AIICO Capital Limited, Anchoria Advisory Services Limited, and Coronation Merchant Bank Limited. All these entities are Registration Members (Quotations) of the Exchange, underscoring a collaborative effort within the financial market. FMDQ Exchange continues its dedication to facilitating financial market efficiency and creating opportunities for market participants to achieve their strategic and long-term financial objectives.