FMDQ Securities Exchange Limited has approved the quotation of N22.68bn commercial paper for Daraju Industries Limited to support its expansion and liquidity needs.
The approval covers Daraju’s N4.92bn Series 1 and N17.76bn Series 2 issuances under its N50bn commercial paper programme, marking a significant funding milestone for the company.
The Exchange’s Board Listings and Markets Committee granted the approval, reinforcing confidence in the Nigerian debt capital market and its ability to support corporate financing.
“This transaction highlights the continued depth of the Nigerian commercial paper market in supporting corporate liquidity requirements,” said Tumi Sekoni, Group Chief Operating Officer of FMDQ Group Plc.
Strategic expansion
Daraju Industries, known for its range of personal and home care products, plans to deploy the proceeds to strengthen its financial position and expand its market footprint.
The company said the funds would be used to boost working capital, improve operational efficiency, and optimise its funding structure amid rising operational costs in Nigeria’s manufacturing sector.
Market confidence
The issuance was sponsored by FBNQuest Merchant Bank Limited, with support from co-sponsors including CardinalStone Partners Limited, Cordros Advisory Services Limited, and Coronation Merchant Bank Limited.
The strong institutional backing reflects investor confidence in Daraju’s credit profile and the transparency of the FMDQ platform.
Capital market impact
As a key player in Nigeria’s financial market infrastructure, FMDQ continues to facilitate access to short-term funding for corporates, supporting economic growth and industrial expansion.
The Exchange’s technology-driven platform enables efficient capital mobilisation, benefiting both established companies and emerging businesses.
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