New Telegraph

FMDQ receives C & I Leasing’s N50.00bn Commercial Paper

As corporate institutions continue to tap the Nigerian debt markets to access finance to fund key activities in their organisations, the commercial paper market, as administered by FMDQ Securities Exchange Limited, has continued to provide issuers renewed opportunities to grow their businesses. It has also helped to maintain the much-needed confidence of investors, whilst contributing to the overall growth of the Nigerian economy. In this regard, FMDQ Exchange has approved the registration of the C & I Leasing PLC N50.00 billion Commercial Paper (CP) Programme on its platform. C & I Leasing PLC (the Issuer) is a diversified, leasing and business service conglomerate providing support services to various indigenous and multinational organisations in West Africa along three (3) lines: Fleet Management, Personnel Outsourcing, and Marine Service.

The company provides transportation logistics solutions in the form of car and marine vessel rental, fleet management and automobile distribution through its wholly owned subsidiaries: C & I Marine, C & I Fleet Management, C & I Outsourcing, and CITRACKS. The successful registration of this CP Programme, which is sponsored by Cordros Capital Limited ( t h e Lead Sponsor) , and Kairos Cap i t a l Limi ted, both Registration Member (Quotations) of the Exchange, tactically positions the Issuer to raise short-term finance from the Nigerian debt markets at strategically viable times during the CP Programme validity, through CP issuances, within the CP Programme limit

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