DLM Capital Redeems N3.52bn Commercial Paper

September 20, 2022
DLM Capital

By Aduragbemi Omiyale

The N3.52 billion commercial paper issued to capital market investors by DLM Capital Group a few months ago has been redeemed.

The funds, sourced by the organisation from various investors, including Pension Fund Administrators (PFAs), asset managers, insurance companies and banks, were repaid after the commercial paper sold in three series matured recently.

DLM Capital approached the Nigerian capital market earlier in 2022 to get funds for its business operations, and due to the confidence investors had in the company, they bought the notes.

The firm had issued N1.24 billion Series 1, N1.01 billion Series 2 and N1.27 billion Series 3 commercial paper issues. They were sold under the company’s N20 billion commercial paper issuance programme.

After the exercise, they were listed on the FMDQ Securities Exchange.

“We are pleased to have fully repaid all the investors in the Series 1, Series 2 and Series 3 CP issuances. We thank all our investors for their participation and reiterate our commitment to being a counterparty that can be relied on for the long term; we have been around for 13 years, and we will continue to contribute our quota to Nigeria’s development,” the GCEO of DLM Capital Group, Mr Sonnie Ayere, stated.

He added that “these redemptions reflect DLM’s capacity to meet its financial obligations as at when due, and we intend to remain an active issuer in the commercial paper market.”

DLM Capital Group operates in retail banking via its digital channel SoFRI, consumer & business lending, asset management, investment banking, trustees, securities trading and foreign exchange.

Aduragbemi Omiyale

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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