FMDQ Securities Exchange Limited has approved the registration of the Julius Berger Nigeria Plc’s N30billion commercial paper (CP) programme on the ExchangThe Exchange said, this feat demonstrates its positioning as the preferred platform for debt securities, and further reinforces the Exchange’s commitment to enhancing access to capital for infrastructure development for the good of the Nigerian economy at large, though its credible and transparent platform.
The CP programme, which is sponsored by Stanbic IBTC Capital Limited and FCMB Capital Markets Limited, will avail the Julius Berger, the opportunity to raise short-term finance from the Nigerian debt markets through CP issuances within the programme limit.
The managing director, Julius Berger, Dr. Lars Richter, said, Julius Berger is pleased to have completed the establishment of its N30 billion CP Issuance Programme on FMDQ Exchange, saying, the establishment of the CP Programme will enhance Julius Berger’s long-term strategy to boost financial flexibility and strengthen its competitive advantage in the construction sector.
He noted that, issuance of commercial papers will support the company’s short-term capital and funding requirements, enabling the company diversify funding sources and unlock more value for stakeholders.
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