FMDQ successfully quotes TrustBanc Holding’s N200m Series I CP on its platform

• Proceeds will be used to fund the Issuer’s short-term financing requirement

Charles Abuede

The FMDQ Securities Exchange has announced the successful quoting of TrustBanc Holdings Limited N200 million Series I Commercial Paper on its platform under the company’s N10 billion Commercial paper Issuance Programme. The proceeds from the quotation of this CP will be used to fund the Issuer’s short-term financing requirement.

Following the successful registration of the Commercial Paper programme in April 2021, the successful quotation of the maiden CP series is a validation of the FMDQ OTC Exchange as the choice platform for the registration, listing, quotation, trading and recording of financial securities in the Nigerian financial market.

The commercial paper (CP) from the investment management firm that offers an array of financial services such as banking, brokerage, forex trading, and wealth management, through its subsidiaries, which was sponsored on the FMDQ Exchange by UCML Capital limited, shall be made visible, like other securities, to investors and other markets participants through FMDQ’s (Africa’s first vertically integrated financial market infrastructure group) platform and website as well as its daily quotation lists.

The company also revealed that investors will benefit from the continuous information disclosure and transparency availed to this Series I commercial Paper as Nigeria’s OTC Exchange will continue to support its stakeholders, particularly issuers and investors towards accessing capital from the Nigerian debt capital market, managing risks and invariably, improving their corporate profile.