SKLD Registers Maiden CP Programme on FMDQ Exchange
Corporate institutions continue to successfully tap the Nigerian debt capital markets (DCM) to access stable short, medium and long-term finance to fund key activities in their organisations. The commercial paper (CP) market continues to provide issuers renewed opportunity to grow their businesses and restore the much-needed confidence of investors, whilst contributing to the overall growth of the Nigerian economy. In this regard, FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”) is pleased to announce the approval of the registration of the SKLD Integrated Services Limited ₦2.00 billion Commercial Paper Programme on its platform.
SKLD Integrated Services Limited (“SKLD” or the “Issuer”) is an integrated corporate entity providing educational and office supplies, branded product distribution, technology, garment manufacturing and humanitarian aid procurement services through contracts, wholesale, retail and online channels. This CP Programme which is sponsored by Coronation Merchant Bank Limited – a Registration Member (Quotations) of the Exchange, positions the Issuer to raise short-term finance from the Nigerian DCM easily, through CP issues within its CP Programme limit.
Speaking on the successful CP Programme registration, the Deputy Managing Director, SKLD Integrated Services Limited, Mr. Tayo Osiyemi stated, “the successful establishment of our ₦2.00 billion CP Programme confirms SKLD Integrated Services Limited’s ambition to harness the Nigerian capital market, in funding its operations and strategy. It also gives credence to SKLD’s belief in the Nigerian DCM and puts the Company in a position to broaden its potential funding sources and create superior value. We remain steadfast in our objective to unlock value for our stakeholders, while deepening penetration as a supplier of humanitarian relief materials and contract manufacturing for local fashion outfits and contractors. We look forward to a warm reception as we engage with capital market investors under this Programme”.
In line with its strategic objectives to support institutional growth and stimulate continuous development of the economy at large, FMDQ Exchange has shown its steadfastness in aligning the Nigerian DCM to international standards, through the promotion and provision of a world-class quotation service, availing issuers and investors the much-needed global visibility, confidence and protection in the markets.
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