DLM Capital Group Raises N5.3bn In 106% Oversubscribed CP Issue

DLM Capital Group has raised N5.304 billion in 106 per cent oversubscribed commercial paper (CP) issue.

This is coming after DLM Capital Group announced the issuance of its N5 billion Series 10 and 11 Commercial Paper Notes under its N20 billion CP Issuance Programme, was 106 per cent subscribed, as the firm secured N5.304 billion. 

This round was led by FBNQuest, supported by UCML, DLM Advisory and Afrinvest. The 180-day-tenor Series 10 and 268-day-tenor Series 11 were both issued on the January 18, 2023 with maturity dates of July and October 2023 respectively. 

Group CEO of DLM Capital Group, Babatunde Ayere, said: “we are thrilled with the overwhelming investor demand and confidence for this financing.”

Ayere stated that, “this issue will significantly bolster the company’s treasury and has provided a solid foundation for DLM to grow by making funds available to our domestic companies in a variety of sectors and consumers seeking everyday loans. As always transparency is key so, we also look forward to updating investors on our progress in the coming months.”

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Founded in 2009, DLM Capital Group has expanded from its initial investment banking forte to include trusteeship, securities sales and trading, asset management, foreign exchange sales and trading, corporate lending, nominees, and digital banking.