FMDQ Exchange Approves the Registration of the Lekki Gardens Estate Limited ₦25.00bn Commercial Paper Programme on its Platform

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

FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”) continuesto propel businesses, corporates, and government entities to achieve their strategic objectives and ensure prosperity within the Nigerian financial markets and wider economy. As the leading organiser for the Nigerian debt capital market (DCM) and in its role as a catalyst for infrastructure development, FMDQ Exchange through its Board Listings and Markets Committee, has approved the registration of the Lekki Gardens Estate Limited ₦25.00 billion Commercial Paper (CP) Programme on its platform.

Lekki Gardens Estate Limited (“Lekki Gardens” or the “Issuer”) is a leading independent luxury real estate company in Nigeria that provides innovative real estate solutions in the areas of property development, facility management and sales of real estate products and services with special skills in service delivery. The CP Programme, which is sponsored by Boston Advisory Limited – a Registration Member (Quotations) of the Exchange, positions the Issuer to raise short-term finance from the Nigerian debt capital market (DCM), through CP issues within its CP Programme limit.

Speaking on the successful CP Programme registration, the Managing Director/Chief Executive Officer, Lekki Gardens Estate Limited, Mr. Richard Nyong said, “Lekki Gardens is pleased to announce the registration of her ₦25.00 billion CP programme. As a leading player in the real estate sector, we appreciate how critical sustained access to steady sources of funding is to real estate development. The approval of this CP programme by the FMDQ Exchange represents a significant milestone in our near-term growth aspirations and further enhances our capacity to unlock value for all our stakeholders”. According to the Executive Director, Business Support & Corporate Services, Lekki Gardens Estate Limited, Ms. Emily Atebe, “Lekki Gardens remains strongly committed to enabling the greatest number of people make the most value of their property and property related investments as we contribute our quota to closing the critical gap in home ownership and development. This issuance is in line with our strategy to diversify our financing options as we continue to deliver on our commitment while efficiently managing our cost of funds”.

Equally, the Managing Director/Chief Executive Officer, Boston Advisory Limited, Mr. Rotimi Balogun mentioned that “real estate companies represent one of the most attractive investment options and should leverage the debt capital market for effective pricing, good stability, growth capital and enhanced capital structure. I am therefore pleased to announce the registration of the ₦25.00 billion Commercial Paper Programme Issuance for a premium real estate company, Lekki Gardens Estate Limited, in our capacity as Sponsor, Arranger, Dealer and IPA. For my team and I, this registration is a success from all standpoints. And we believe that the groundbreaking transaction in the real estate space will further assist Lekki Gardens in its drive to be the leading real estate development and management company  Africa’s largest market”. The Senior Vice-President, Investment Banking, Boston Advisory Limited, Mr. Adekunle Alade also commented that “we are very delighted on the approval of the ₦25.00 billion Commercial Paper Issuance Programme for Lekki Gardens Estate Limited. The registration of this CP Programme strategically positions Lekki Gardens Estate Limited to access short term funding at a lower rate from the debt capital market and quickly complete its various on-going housing projects”.

As the Nigerian DCM continues to witness significant activity with diverse corporate institutions tapping the market as an efficient alternative to meeting their funding and liquidity requirements, FMDQ Exchange will continue to provide 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 Group is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.

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