FMDQ Securities Exchange Limited, in furtherance of its commitment to the transformative development of the Nigerian debt markets, has approved the registration of the Johnvents Industries Limited N30 billion Commercial Paper (CP) Programme to boost agriculture.
FMDQ stated that, access to capital remains a top priority for corporates, as capital is required to fund business expenditure, expansion aspirations and/or existing debt obligations, and the debt markets fulfil this funding requirement by availing competitive financing to corporates and governments.
Johnvents Industries Limited is a wholly indigenous-owned agribusiness that provides modern information and communication tools, macro-loans, and farm inputs, such as seedlings and fertilisers, to support farmers and finance their businesses in Nigeria, via its subsidiaries, Johnvents Procurements, Johnvents Cocoa Factory and Johnvents AgriTrade.
The Exchange said: “the CP Programme, which is sponsored by United Capital Plc will avail the Issuer, Johnvents Industries, the opportunity to raise short-term finance from the Nigerian debt markets through CP issuances within the Programme limit.
“As Nigeria’s largest securities exchange by market turnover, FMDQ Exchange will continue to provide a liquid, transparent and efficient market geared towards supporting the aspirations of corporates, such as Johnvents Industries, to unlock the required capital to bridge the funding gap in Nigeria’s agriculture sector.”
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