As part of its mandate to accelerate the development of the Nigerian debt markets, FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”) continues to use its credible platform to efficiently enhance the registration, listing, quotation, and trading of debt securities in the Nigerian financial markets. In this regard, the Board Listings and Markets Committee of FMDQ Exchange has approved the quotation of MyCredit Investments Limited ₦2.50 billion Series 1 Commercial Paper (“CP”) under its ₦2.50 billion CP Issuance Programme on its platform.
MyCredit Investments Limited (the “Issuer”) is a digital consumer and small and medium-scale enterprises lender, and provider of digital financial services in Nigeria. The proceeds from this CP, which is sponsored by United Capital PLC (Lead Sponsor), FBNQuest Merchant Bank Limited and Renaissance Securities (Nigeria) Limited (Co-Sponsors) – all Registration Member (Quotations) of FMDQ Exchange, will be applied by the Issuer for its general corporate purposes.
The Nigerian CP market, as administered by FMDQ Exchange, continues to provide issuers with renewed opportunities to grow their businesses and maintain the much-needed restored confidence of investors, whilst contributing to the overall growth of the Nigerian economy. The Exchange will continue to provide a liquid, transparent and efficient market geared towards supporting the aspirations of corporates, to unlock the required capital to bridge the funding gap in their various sectors.
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.