DLM Capital Redeems N3.52bn CP Issues

The financial institution, DLM Capital Group, has announced the maturity and successful redemption of its N3.52 billion Commercial Paper Issuance Programme.

The N3.52 billion programme comprises N1.24 billion series 1, N1.01 billion Series 2 and N1.27 billion Series 3 CP issues under its N20 billion Commercial Paper Issuance Programme.

The N1.24 billion series 1, N1.01 billion Series 2 and N1.27 billion commercial papers which were all issued via and quoted on the FMDQ Securities Exchange; matured on the May 31, 2022, August 29, 2022, and August 12, 2022 respectively.

In line with best practice, the FMDQ has been informed of these redemptions. With a successful outing, the three Series garnered investments from a variety of investors ranging from Pension Fund Administrators(PFAs), Asset Managers, Insurance companies and banks.

Speaking on the successful redemption, the group chief executive officer of DLM Capital Group, Mr. Sonnie Ayere, said: “we are pleased to have fully repaid all the investors in the Series 1, Series 2 and Series 3 CP issuances. We thank all our investors for their participation and reiterate our commitment to being a counterparty that can be relied on for the long term; we have been around for 13 years, and we will continue to contribute our quota to Nigeria’s development.”

He further added that, “these redemptions reflect DLM’s capacity to meet its financial obligations as at when due and we intend to remain an active issuer in the commercial paper market.”