FMDQ Exchange admits Dufil Prima Foods N30.00bn series 5, 6 CPs
FMDQ Securities Exchange Limited has continued to work collaboratively with market stakeholders to ensure that growth and development opportunities abound for the markets under its purview.
Following the due diligence process, the Exchange is pleased to announce the approval of the Dufil Prima Foods Plc’s N8billion Series 5 and N22 billion Series 6 Commercial Papers (CPs) under its N30billion CP Issuance Programme on its platform.
Dufil Prima Foods is a consumer food manufacturing company based in Nigeria and a subsidiary of Tolaram Group, which manufactures and distributes food products such as instant noodles, vegetable cooking oil, baking flour, amongst others.
The quotation of these CPs, which are sponsored by Stanbic IBTC Capital Limited – a Registration Member (Quotations) of the Exchange, strategically positions Dufil to raise short-term finance easily and quickly from the Nigerian debt capital market (DCM). The proceeds from these CPs will be used to refinance the food giant’s short-term debt obligation as well as support its working capital.
As more corporate institutions continue to tap the CP market to meet their short-term funding needs and liquidity requirements, FMDQ Exchange has remained relentless in taking the necessary steps towards promoting transparency, governance, integrity and efficiency in the Nigerian CP market and overall debt capital market. FMDQ Exchange will, through the championing of key market development initiatives, take commendable steps to support the realisation of a globally competitive financial market and vibrant economy.
