DLM Capital Redeems N572m Series 5 Commercial Paper

October 11, 2022
series 5 commercial paper DLM Capital

By Aduragbemi Omiyale

The N572 million series 5 commercial paper issued to capital market investors in Nigeria by DLM Capital Group has been redeemed after its maturity.

The notes were sold a few months ago by the company under its N20 billion commercial paper issuance programme.

DLM Capital is an investment-grade company operating businesses like retail banking via its digital banking channel Sofri, consumer & mid-corporate lending, asset management, corporate finance advisory, trustees, securities trading, and foreign exchange.

To run its operations smoothly and effectively, the organisation went to the capital market to get some funds through the sale of commercial paper.

Based on its past records, investors subscribed to the issuance. They cut across various strata, including institutions and individuals.

In a statement, the GCEO of DLM Capital, Mr Sonnie Babatunde Ayere, said the firm was “pleased to repay this trust and redeem all its issues at their maturities; whilst looking to further strengthen the relationship with our investors as a responsible and dynamic issuer.”

Business Post gathered that the redemption of the N572 million series 5 commercial paper issue brought the total amount repaid by the company under its CP scheme to N4 billion.

Recall that last month, DLM Capital redeemed the N3.52 billion commercial paper issued to Pension Fund Administrators (PFAs), asset managers, insurance companies and banks.

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.

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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