FMDQ Securities Exchange Limited has announced the quotation of Eunisell Limited’s N3.50 billion series one commercial paper (CP) under its N10.00 billion CP programme on the Exchange platform.
Eunisell Limited is a leading chemical and specialty fluid management company, supplying key products and offering production solutions to a wide range of customers operating in Africa’s oil and gas, manufacturing, and automotive industries.
The Eunisell Limited CP, which was sponsored for quotation on the Exchange by Vetiva Capital Management Limited, a registration member of FMDQ Exchange shall be availed a host of benefits.
These include but are not limited to global visibility, transparency, credible price formation and continuous information disclosure, through FMDQ Exchange’s website, systems and the FMDQ daily quotations list.
A press release by FMDQ said “The proceeds from the issuance will be used to support the issuer’s general corporate purposes and short-term funding requirements.”
Speaking on the successful CP issuance, the managing director, Eunisell Limited, Mr Chika Ikenga said, “The company is pleased to notify the public of the issuance of its Series one CP on the FMDQ Exchange platform. The Series one N3.50 billion CP represents a strategic milestone in Eunisell Limited’s broad funding plan.”
According to him, this issuance will help the company meet its short-term funding needs, thus supporting our near-term growth aspirations.