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TrustBanc Holdings lists maiden commercial paper on FMDQ Exchange

 

TrustBanc Holdings Limited, an investment management firm, has listed its maiden commercial paper issuance on the FMDQ Securities Exchange, further deepening the  commercial paper market.

FMDQ Securities Exchange approved the quotation of TrustBanc Holdings Limited’s N200 million Series 1 Commercial Paper (CP ). It was issued under TrustBanc’s N10billion CP issuance programme.

The quotation of the maiden CP series followed the successful registration of the CP programme last month.

The net proceeds from the CP would be used to fund TrustBanc’s short-term financing requirement.

FMDQ stated that the TrustBanc quotation further validated FMDQ Exchange as the choice platform for the registration, listing, quotation, trading and recording of financial securities in the Nigerian financial market.

FMDQ noted that the CP market has continued to provide corporate entities across the various sectors of the economy avenue to raise funds to meet shortfalls in their working capital as well as other short-term expenditures.

TrustBanc Holdings is a registered brand investment management firm that offers an array of financial services such as banking, brokerage, forex trading, and wealth management, through its subsidiaries – TrustBanc Asset Management Limited, TrustBanc Capital Limited, TrustBanc Microfinance Bank, TrustBanc Artur Limited and Primelink Bureau De Change.

 

FMDQ stated that TrustBanc’s CP, which was sponsored on the Exchange by UCML Capital Limited, a registration member of FMDQ Exchange, like all other securities, shall be made visible to investors and other market participants through the FMDQ Exchange’s website and systems, as well as FMDQ’s Daily Quotations List.

“Investors shall also benefit from the continuous information disclosure and transparency availed to this CP. FMDQ Exchange is committed to remaining innovative and providing timely and cost-efficient services to support its stakeholders, particularly issuers and investors, towards accessing capital, managing risks and invariably, improving their corporate profile,” FMDQ stated.

 

 



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