Emerging  Africa Capital Redeems N1.86bn Commercial Paper

Emerging Africa Capital Limited  has  successful redeemed  its N1.86 billion  Series II Commercial Paper (CP) issued on November 1, 2022,on the Nigerian debt capital market through FMDQ Securities Exchange Limited  platform under its N15 billion CP issuance programme.

The 269 days Series II CP was issued at a discount rate of 17.43 per cent  and achieved a 100 per cent subscription rate as a first-time issuer.

According to the company, the  impressive subscription level showed  investors’ confidence in its  impressive profile and the ability of its management team to deliver timely value to its stakeholders.

Speaking on the successful redemption of the CP,  Executive Vice Chairman/Group Chief Executive Officer of Emerging Africa Capital, Toyin F. Sanni,  stated: “The successful redemption of the N1.86 billion  Series 2 CP reflects the company’s commitment to ensuring transparency and trustworthiness in maintaining investor’s confidence in the Nigerian debt capital market.”

Sanni  further expressed her gratitude to all investors for their trust and confidence in the company and promised to continue to deliver substantial value to its stakeholders.

Emerging Africa Capital Limited is a leading investment banking and financial services company licensed by the Securities and Exchange Commission (SEC) to provide issuing house/underwriting, trust, and asset management services. The company prides itself in creating value for stakeholders through a combination of direct equity investments in our subsidiary companies and by arranging/facilitating debt and equity capital financing for our clients.