FMDQ Admits ₦0.60bn C & I Leasing PLC Bond to its Platform

Share This Article
Share on facebook
Share on linkedin
Share on twitter
Share on email

FMDQ Admits ₦0.60bn C & I Leasing PLC Bond to its Platform. Barely a week into the formal admittance of the N16.79bn UACN Property Development Company PLC’s Commercial Paper, FMDQ OTC Securities Exchange (“FMDQ” or “the Exchange”) has welcomed yet another listing – C & I Leasing PLC N600,000,000.00 18.25% Fixed Rate Bond, on its platform. To this end, the Exchange again played host to the Issuer, represented by the Managing Director of C & I Leasing PLC (C&I), Mr. Andrew Otike-Odibi, as well as the sponsor of the Bond on FMDQ, the Registration Member (Listings), WSTC Financial Services Limited, represented by the Managing Director/CEO, Mr. Tofarati Agusto, among others, to a prestigious Listing Ceremony.

As is customary of FMDQ Listing Ceremonies, the C & I Leasing PLC Bond Listing Ceremony was accorded the well-deserved accolades, which included, among others, the signing of the FMDQ Bond Listings Register, presentation of the FMDQ Bond Listing Certificate, and the autographing of the FMDQ Bond Listing Wall of Fame.

Delivering the welcome address, Ms. Tumi Sekoni, Vice President & Divisional Head, Marketing & Business Development, FMDQ, congratulated the Issuer and all parties to the listing of the C & I Leasing PLC Bond, and highlighted that FMDQ’s listing service had been tailored to provide, among others, a unique opportunity for issuers to raise the profiles of their issues and access a deep pool of capital, thereby meeting their long term funding needs even as the Nigerian debt capital market becomes aligned with international best practices and standards. She further stipulated that the Exchange would provide continuous information disclosure on the C & I Leasing Bond, including price/value data and detailed issuers’/issues information, to stakeholders via the ‘Listings & Quotations’ page on the FMDQ website. In addition, to promote an efficient and well regulated market, which will attract and retain both domestic and foreign investors, improve price discovery and transparency for issuers, dealers, regulators and the general public, the Bond shall also be included on the FMDQ-Bloomberg E-Bond Trading System (E-Bond).

In delivering his special address, Mr. Otike Odibi, commented that, ‘’The current operating environment presents both opportunities and challenges, and as a leading player in the support services industry, an offer of this nature will provide additional capital to enable us expand our marine business operations, repay existing credit facilities and meet working capital obligations which will ultimately lead to more profitability and growth in market share guided by a robust risk management framework and strong corporate governance. We remain committed and focused on the fundamentals of our business which are efficiency and service delivery whilst intensifying efforts to boost our revenue generating profile from our other businesses and reduce credit exposures to volatile segments of the market.”

Following the presentation of the listings scroll to the Registration Member (Listings), Mr. Agusto stated, “Coincidentally, C & I Leasing PLC and WSTC Financial Services Limited were pioneer Finance Houses as both commenced operations in 1991 and were amongst a handful of those that survived the monumental crash of the industry in 1993. It is to the credit of the Board and Management of C&I that the company very early subjected itself to the discipline of public listing and evolved to be a preeminent leasing company in Nigeria. The growth of C&I is the result of focused and disciplined management and the FMDQ platform has deepened its access to the Financial Market. We congratulate FMDQ and C&I on this historic listing.”

FMDQ, through the concerted efforts of its varied stakeholders, has continued to facilitate growth and development in the Nigerian financial market, with specific focus on the debt capital market, and the Nigerian economy at large. The Nigerian debt capital market continues to make essential strides towards its development and today’s listing of the C & I Leasing PLC Bond on FMDQ marks another milestone in this certain development.

More Articles

FMDQ Exchange Admits Chapel Hill Denham Series 9 Nigeria Infrastructure Debt Fund on its Platform

FMDQ Exchange Lists Lagos State Government ₦19.82 billion Forward Ijarah Lease Sukuk on its Platform

FMDQ Exchange Admits Lionseal Industries Limited’s ₦10.00 Billion Commercial Paper Programme on its Platform

FMDQ-OXFO Partnership
With innovative technology and strategic partnerships we create a new value network and redefine the cost structure for homeownership so that more people
FMDQ Sustainability Agenda
FMDQ, through its activities, aims to achieve sustainability in the areas it actively operates and impacts, as such, its Sustainability Strategy is guided by five (5) main Sustainability Pillars…

Dear Subscriber,

Thank you for your interest in staying connected with us! Before proceeding, please take a moment
to read and acknowledge the terms and conditions below:

1. Privacy Policy: Your privacy is important to us. We will handle your personal information responsibly and in accordance with our Privacy Policy. You can review our Privacy Policy here.

2. Email Communications: By subscribing, you consent to receiving email communications from us. These may include newsletters, product and service brochures, and other relevant updates.

3. Subscription Confirmation: You will receive a confirmation email shortly. Please click on the provided link to confirm your subscription. This step ensures your interest in receiving emails from us.

4. Unsubscribe Option: Every email communication you receive will include an option to unsubscribe. If you ever wish to stop receiving our email communications, you can do so by clicking the “unsubscribe” link at the bottom of the email.

5. Age Verification: By subscribing, you confirm that you are 18 years old or the legal age of majority in your jurisdiction.

6. Frequency: We strive to send you relevant content without overwhelming your inbox. You can expect to hear from us [weekly/monthly/occasionally], depending on our content schedule

Please check the boxes below to confirm your consent.
If you have any questions or concerns about our terms and conditions, kindly contact us at
[info@fmdqgroup.com]

Report

Get access to industry data and reports

Report

Get access to industry data and reports

Report

Get access to industry data and reports

Report

Get access to industry data and reports