Skymark Partners Redeems N339m Debut Commercial Paper

Oluchi Chibuzor
Skymark Partners Limited, has announced the maturity and successful redemption of its debut Series 1 Commercial Paper under its N5 billion Commercial Paper Programme.
The N339 million 91-day Series 1 Commercial Paper which was issued and quoted earlier this year on the FMDQ Securities Exchange, matured on the 16th of June. In line with best practice, the Exchange has been informed of the repayment.
Commenting on the successful redemption, Chairman of Skymark Partners Limited, Egie Akpata FCCA, said, “We are pleased to have fully repaid all the investors in the Series 1 issuance. We thank all the institutional investors for their participation and reiterate our commitment to be a counterparty that can be counted on for the long term.”
Furthermore, he stated, “This redemption reflects Skymark’s capacity to meet its financial obligations as at when due and we intend to remain an active issuer in the commercial paper market.”
Following the release of the company’s audited FY 2021 financials, Skymark renewed its credit rating. The continued growth trend of revenue and profits resulted in DataPro affirming Skymark’s long term rating of A and short-term rating of A1.The rating remains valid till June2023.
Skymark Partners is a principal investment company with interests in financial services, technology, and real estate amongst others. Skymark Partners was incorporated in 2009 and is based in Lagos.
Skymark Partners is a private investment company focused on investing and creating wealth in critical growth sectors of the Nigerian economy.