November 28, 2022

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INTERNET PROVIDER BLOG

Coleman technical industries quote further CP on FMDQ’s platform


The Coleman Technical Industries Restricted has quoted N2.51 billion Sequence 5 and N7.50 billion Sequence 6 Business Papers (CPs) below its N20.00 billion Business Paper Issuance Programme on the FMDQ Securities Trade Platform.

Coleman Technical Industries Restricted is West Africa’s largest producer and distributor {of electrical} wires and cables.

The citation of this CPs, sponsored by Coronation Service provider Financial institution Restricted, Afrinvest Capital Restricted, Cardinal Stone Companions Restricted, FSDH Capital Restricted and SFS Monetary Providers Restricted, strategically positions the Issuer to lift short-term finance simply and shortly from the Nigerian debt markets.

The Issuer can even profit from FMDQ Trade’s diversified market stakeholders, its extremely responsive and environment friendly itemizing and citation processes, and credible benchmark pricing required for acceptable portfolio valuation, amongst others.

Talking on the profitable issuance of the CPs, the Managing Director/Chief Govt Officer, Coleman Technical Industries Restricted, Mr. George Onafowokan, mentioned “we’re delighted to have efficiently concluded our sequence 5 & 6 CP issuance within the Nigerian debt markets. The issuance comes at a optimistic time for Coleman, on the heels of a robust 2022 first half earnings and persevering with success in our capital administration program. Diversifying our funding sources with this CP issuance at a aggressive fee will additional allow us to attain our strategic targets. We’re happy by the success of the CP issuance and grateful to the investor group for supporting the transaction.”

Additionally, the Chief Govt Officer, Coronation Service provider Financial institution Restricted, Mr. Banjo Adegbohungbe, said “we’re happy to have supported Coleman Technical Industries Restricted, on this largest business paper issuance by a cable and wires firm in Nigeria. This issuance underscores the essential position of the Nigerian monetary market in offering funding to the non-public sector for sustainable improvement. This collaboration is in step with our dedication so as to add worth to our prospects and to allow them obtain their strategic objectives. We thank the board and administration of Coleman for his or her dedication and dedication all through the method, and the investing group for supporting the problem.”

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