Capital Group Redeems N3.52bn Commercial Paper Issues

Kayode Tokede

 Capital Group has announced the maturity and successful redemption of its N1.24billion Series 1, N1.01billion Series 2 and N1.27billion Series 3 Commercial Paper (CP) issues under its N20billion Issuance Programme.

 The N1.24billion Series 1, N1.01billion Series 2 and N1.27billion Series 3 Commercial Papers which were all issued via and quoted on the FMDQ Securities Exchange; matured on the 31st May 2022, 29th August, 2022, and 12th August 2022 respectively.

In line with best practice, the FMDQ has been informed of these redemptions. With a successful outing, the three Series garnered investments from a variety of investors ranging from Pension Fund Administrators, Asset Managers, Insurance companies and Banks.

Commenting on the successful redemption, the GCEO of DLM Capital Group, Mr. Sonnie Ayere, in a statement said, “We are pleased to have fully repaid all the investors in the Series 1, Series 2 and Series 3 CP issuances.

“We thank all our investors for their participation and reiterate our commitment to being a counterparty that can be relied on for the long term; we have been around for 13 years, and we will continue to contribute our quota to Nigeria’s development”.

He further added that “these redemptions reflect DLM’s capacity to meet its financial obligations as at when due and we intend to remain an active issuer in the commercial paper market.”