Emerging Africa Capital Redeems N1.6bn Series 3 Commercial Paper

Emerging Africa Capital Limited (EACL) has successfully repaid  the total sum of N1.655 billion  Series 3 Commercial Paper, which was issued on July 12, 2023, on the Nigerian Debt Capital Market through FMDQ Securities Exchange Limited platform under its N15bn Commercial Paper Issuance Programme.

The 180 days Series 3 Commercial Paper was issued at a discount rate of 13.0982 per cent and achieved a 125 per cent -subscription rate, showcasing the confidence of investors in the company’s impressive profile and the ability of its management team to deliver value to its stakeholders.

Commenting, the Executive Vice Chairman/Group Chief Executive Officer of EACL, Toyin F. Sanni, expressed her satisfaction with the successful redemption of the N1.655 billion Series 3 Commercial Paper.

She emphasised the company’s commitment to transparency and trustworthiness in maintaining investor confidence in the Nigerian Debt Capital Market. Sanni  extended her gratitude to all investors for their trust and confidence in the company, assuring them of the continued delivery of substantial value to stakeholders.

Also speaking,  Team Lead, Debt Capital Market, at Emerging Africa Capital Advisory Limited, Kolawole Epebinu,  expressed confidence in Emerging Africa Capital Limited’s ability to fulfill its obligations to subscribers, emphasising the significance of the successful redemption of the Series 3 Commercial Paper through FMDQ Exchange.

EACL, a leading Investment Banking and Financial Services company licensed by the Securities and Exchange Commission (SEC), provides Issuing House/Underwriting, Trust, and Asset Management services. The company takes pride in creating value for stakeholders through direct equity investments in subsidiary companies and by arranging/facilitating debt and equity capital financing for clients.