In furtherance of its commitment to deepening Nigeria’s capital markets and broadening access to cost-effective short-term funding, FMDQ Securities Exchange Limited (“FMDQ Exchange” or “the Exchange”) has approved the quotation of Sycamore Integrated Solutions Limited’s ₦1.82 billion Series 1 Tranche A and ₦5.07 billion Series 1 Tranche B Commercial Papers (“CPs”) under its ₦20.00 billion CP Programme. This approval by the Exchange’s Board Listings and Markets Committee further reflects FMDQ Exchange’s commitment to fostering an efficient, transparent, and resilient debt capital market that connects issuers with capital and supports sustainable economic growth.
Sycamore Integrated Solutions Limited (“Sycamore” or the “Issuer”) is a technology-driven financial services company dedicated to delivering innovative, accessible, and transparent credit and digital financial solutions to individuals and businesses across Nigeria. By leveraging its proprietary technology infrastructure, Sycamore provides a suite of credit products that support financial inclusion and economic activity. The net proceeds from these CP issuances, sponsored by BAS Capital Limited, a Registration Member (Quotations) of FMDQ Exchange, will be deployed to strengthen the Issuer’s working capital base, support the growth of its lending portfolio, and enhance its capacity to deliver its financial service offerings to emerging market segments.
Commenting on the CP quotation, Ms. Tumi Sekoni, Group Chief Operating Officer, FMDQ Group PLC, stated: “The quotation of Sycamore Integrated Solutions Limited’s Series 1 Tranche A and B Commercial Papers on FMDQ Exchange reflects the confidence of Nigeria’s corporate sector in the depth and integrity of our platform. At FMDQ Exchange, we remain committed to enabling businesses of all sizes to access the capital markets efficiently and transparently, and Sycamore’s presence on our platform is a testament to the growing vibrancy of Nigeria’s short-term capital markets. We are pleased to support Sycamore as it advances its growth ambitions and expands access to financial solutions that contribute to economic development and financial inclusion.”
FMDQ Exchange continues to play a transformative role in Nigeria’s financial markets by providing a transparent, efficient, and well-regulated platform for capital formation. Through its diverse market offerings, the Exchange enables issuers to access short- and long-term funding while connecting investors with quality investment opportunities. In doing so, FMDQ Exchange supports economic growth and reinforces its position as a leading Securities Exchange at the forefront of Africa’s capital market development.
FMDQ Group PLC (“FMDQ Group”) is Africa’s first vertically integrated financial market infrastructure (“FMI”) group, strategically positioned to provide registration, listing, quotation and noting services for financial markets securities; an integrated trading platform, clearing & central counterparty, and settlement services for financial markets transactions; depository of securities, as well as data and information services, across the debt capital, derivatives and equity markets, among others, 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.