Kindly share this postFBNQuest, the investment banking and asset management subsidiary of FBN Holdings Plc., has continued to play a pivotal role in supporting transactions towards the growth of commercial paper issuances in Nigeria by successfully delivering debt transactions for corporates and institutions. Commercial Papers (CP) in Nigeria has remained a viable funding option for […]
Nigeria's low interest rate and rising inflation presented an opportunity for several top Nigerian companies to use the debt market to raise short-term |
It was a miraculous escape, yesterday, for Stephen Ekanem, a driver with Valency Agro Nigeria Limited, after he rammed into a moving 40-feet container truck along Apapa-Oshodi Expressway, Lagos, with his Toyota Hilux bus.
By Goddy Egene
FBNQuest Merchant Bank, the investment banking and asset management group of FBN Holdings Plc, has recommended commercial papers (CPs) and bonds to corporate issuers seeking to raise working capital, expansion capital, refinance expensive debt and better match their cash obligations with revenues.
Speaking at the Leading Conversations with FBNQuest webinar series, Head Capital Markets, FBNQuest, Oluseun Olatidoye, noted that many companies do not take advantage of Nigeria’s growing CP and bond market to access stable funds that match their capital needs.
He said: “Even though interest rates have trended higher in the first quarter of this year, there is still significant scope for many companies to access cheaper and more stable funding from investors who are seeking well-run businesses with predictable cashflows to invest in.”
By Goddy Egene
FMDQ Securities Exchange Limited recently approved the quotation of the Valency Agro Nigeria Limited N5.12 billion Series 1 Commercial Paper(CP) on its platform.
The N5.12 billion is under the Valency Agro Nigeria Limited N20.00 billion CP Programme and came at a time where the Nigerian economy is be deviled with soaring food prices, amidst compounding challenges of insecurity.
The agricultural sector and its attendant transformation agenda have never been more important in driving increased and sustainable production of agricultural products as well as the derived foreign earnings through exports.
According to the company, the proceeds from this issue of the CP will be applied by Valency Agro towards meeting the mid-term working capital requirements of the various agricultural produce under its portfolio such as cashew, sesame, cocoa and in value addition prior to export.