United Capital Plc has obtained regulatory approval from FMDQ Securities Exchange Limited to increase the size of its existing N20 billion commercial paper (CP) issuance programme to N50 billion.
According to a notice signed by the company’s secretary, Leo Okafor and filed with the Nigerian Exchange Limited (NGX), the validity period of the CP programme was also extended to 18th of October, 2022.
On the other hand, the firm also disclosed that it raised a total sum of N19.7 billion through its recently concluded Series 5, 6 and 7 issues. The 180-day and 270- day issuances were completed at between 11.9% and 13%, with firm commitments from a pool of institutional investors, including asset managers and pension funds. It is pertinent to note that FSDH Capital Limited, United Capital Plc, and UCML Capital Limited acted as Arrangers to the transaction, while Olaniwun Ajayi LP acted as Transaction Counsel.
What you should know:
United Capital Plc is a leading financial services group offering diverse services such as; Investment Banking, Asset Management, Trusteeship, Securities Trading, Wealth Management and Consumer Finance.
The firm closed trading for the week ended 20th of August, 2021 with a share price of N6.89.