Golden Oil Funding SPV PLC Joins other Corporates to Raise Finance from the Nigerian Debt Markets

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As part of its ongoing commitment to support the growth of the Nigerian debt markets, FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”) continues to utilise its platform to facilitate the seamless registration, listing, quotation, and trading of debt securities within the Nigerian financial markets landscape. To this end, the Exchange’s Board Listings and Markets Committee has granted approval for the registration of Golden Oil Funding SPV PLC ₦15.00 billion Asset-Backed Commercial Paper (CP) Programme on its platform.

Golden Oil Funding SPV PLC (the “Issuer”) is a Special Purpose Vehicle set up by Golden Oil Industries Limited (“Golden Oil Industries”) to raise finance from the CP market, through the listing of debt securities. Golden Oil Industries is engaged in the production and supply of healthy oil, such as refined palm oil, palm kernel oil, olein, soybean oil, stearin, soybean meal, soy lecithin, and palm kernel deoiled cake, as a cooking medium for the consumers in the Nigeria food market. This asset-backed CP Programme, which is sponsored by FSDH Capital Limited (Lead Sponsor) and Coronation Merchant Bank Limited (Co-Sponsor) – both Registration Members (Quotations) of the Exchange, enables the Issuer to effectively raise short-term capital from the Nigerian debt markets through the issuance of CPs within the established CP Programme limit.

As is tradition, CPs quoted on FMDQ Exchange benefit from the commendable and efficient quotation process, in addition to the continuous provision of invaluable information and diversified market stakeholders. The Exchange will continue to sustain its efforts in supporting Issuers, such as Golden Oil Industries, with tailored financing options to enable them to achieve their strategic objectives.

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.

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