Emerging Africa Capital’s CP Programme Records 106% Subscription

Emerging Africa Capital Advisory Limited, a prominent investment banking group operating in the African market, announced the successful completion of its Commercial Paper(CP) issuances, recording a subscription level of 106 per cent.

According to the company, the robust level of subscription underscores the unwavering confidence that investors place in the its distinguished profile and the outstanding capabilities of its management team.

Emerging Africa Capital Limited approached the market to raise N5 billion through its Series V (181 days) and Series VI (269 days) CP issuances, which are part of its registered N15 billion programme with the FMDQ Securities Exchange Limited. The company said these issuances received overwhelming interest from qualified institutional investors, including esteemed asset managers, trustees, and insurance companies.

Commenting, the Group Chief Executive Officer of Emerging Africa Capital Limited, Mrs. Toyin F. Sanni, expressed her delight with the overall outcome of the CP issuance.

She highlighted the caliber of investors that participated in the issuance and underscored the company’s strategic intent to establish an exemplary track record in accessing funding from the Nigerian debt capital market through successive series under the N15 billion CP Programme.

Sanni extended her heartfelt gratitude to FMDQ, the arrangers, and investors for their significant contributions to the success of the Series V and Series VI CP issuances.

Also commenting, the Chief Financial Officer of the company, Emeka Anazodo, conveyed his contentment with the substantial investor interest generated by the offer.

“This issuance will empower the company to diversify its financing mix and effectively address short-term working capital requirements,” he said.

Emerging Africa Capital Advisory Limited acted as the Lead Arranger & Dealer, with Afrinvest Capital Limited, CardinalStone Partners Limited, Coronation Merchant Bank, and Nova Merchant Bank serving as Joint Arrangers on the commercial paper transaction.

Emerging Africa Capital Limited, as the parent company, strategically coordinates the activities of the Emerging Africa Group and its primary subsidiaries: Emerging Africa Capital Advisory Limited, Emerging Africa Trustee Limited, and Emerging Africa Asset Management Limited. These subsidiaries are licensed by the Securities and Exchange Commission (SEC) to provide specialised services such as Issuing House/Underwriting, Trust, and Asset Management. The group’s diverse businesses encompass Infrastructure Finance, Financial Technology, Microfinance Banking, and Capacity Building.

According to the company, it is dedicated to advancing Africa’s economy through innovative financing and investment solutions, with a strong focus on Environmental, Social, and Governance (ESG) principles.

“Leveraging its talent, innovation, and collaborative efforts, Emerging Africa Capital is committed to driving sustainable growth in the region,” it said.