FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”), through consistent collaboration with its stakeholders, continues to deepen and effectively position the Nigerian debt markets for growth in support of the realisation of a globally competitive and vibrant economy.
In keeping with its commitment to providing a reliable and credible platform to support capital formation, FMDQ Exchange said it was pleased to announce the quotation of the Eunisell Limited (the “Issuer”) ₦3.50 billion Series 1 Commercial Paper (“CP”) under its ₦10.00 billion CP Programme on the Exchange platform.
Eunisell Limited is a leading chemical and speciality fluid management company, supplying key products and offering production solutions to a wide range of customers operating in Africa in the oil and gas, manufacturing, and automotive industries. The Eunisell Limited CP, which was sponsored for a quotation on the Exchange by Vetiva Capital Management Limited – a Registration Member (Quotations) of FMDQ Exchange – shall be availed a host of benefits, including, but not limited to, global visibility, transparency, credible price formation, and continuous information disclosure, through FMDQ Exchange’s website, systems and the FMDQ Daily Quotations List. The proceeds from the issuance will be used to support the Issuer’s general corporate purposes and short-term funding requirements.
Speaking on the successful CP issuance, the Managing Director, Eunisell Limited, Chika Ikenga, stated, “Eunisell Limited is pleased to notify the public of the issuance of its Series 1 CP on the FMDQ Exchange platform. The Series 1 ₦3.50 billion CP represents a strategic milestone in Eunisell Limited’s broad funding plan. This issuance will help the Company meet its short-term funding needs, thus supporting our near-term growth aspirations”.
Furthermore, the sponsor of the CP on FMDQ Exchange, Vetiva Capital Management Limited, represented by the Director and Head, Investment Banking, Dr Gbadebo Adenrele, commented, “Vetiva Capital Management Limited is grateful for the opportunity to have partnered with Eunisell Limited, acting as the Lead Arranger to the Company on its ₦3.50 billion Series 1 CP Issuance under its ₦10.00 billion CP Programme. The robust participation by institutional investors in this debut issuance by Eunisell Limited demonstrates confidence in the Company’s vision and management team. This issuance will enable Eunisell Limited to meet its short-term funding needs and pave the way for further capital market activities in the near-to-medium term”.
As part of its mandate to organise and govern markets within its purview, and promote credibility and transparency of the markets, FMDQ Exchange shall continue to provide an efficient platform targeted at supporting the aspirations of institutions and government within the Nigerian financial markets, in alignment with the FMDQ Group’s ‘GOLD’ Agenda to make the markets globally competitive, operationally excellent, liquid and diverse.