C & I Leasing Registers N50bn CP Programme on FMDQ

Kayode Tokede

FMDQ Exchange, yesterday announced the registration of the C & I Leasing Plc’s N50 billion Commercial Paper (CP) Programme on its platform.

C & I Leasing, a diversified, leasing and business service conglomerate providing support services to various indigenous and multinational organisations in West Africa along three lines: Fleet Management, Personnel Outsourcing, and Marine Service.

A statement from the FMDQ Exchange explained that C & I Leasing 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 & I Outsourcing, and CITRACKS.

“The successful registration of this 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,” the statement added.