DLM Capital Group said it has raised N5.304 billion through its Series 10 and 11 Commercial Paper Notes under its N20 billion CP Issuance Programme.
The round, which was led by FBNQuest and supported by UCML, DLM Advisory, and Afrinvest, was 106% over-subscribed, resulting in the company exceeding its N5 million target by an additional N304 million.
The 180-day-tenor Series 10 and 268-day-tenor Series 11 were both issued on the 18th of January 2023 with maturity dates of July and October 2023, respectively.
How the proceed will be utilized: Sonnie Babatunde Ayere, Group CEO of DLM Capital Group, noted that the issue would significantly bolster the company’s treasury and has provided a solid foundation for DLM to grow by making funds available to our domestic companies in a variety of sectors and consumers seeking everyday loans.
- “As always transparency is key so, we also look forward to updating investors on our progress in the coming months,” he said.
What you should know: Founded in 2009, DLM Capital Group has expanded from its initial investment banking forte to include trusteeship, securities sales and trading, asset management, foreign exchange sales and trading, corporate lending, nominees, and digital banking.
DLM Capital Group Limited is a diversified financial services institution comprised of brands such as DLM Advisory, DLM Asset Management, DLM Securities, DLM FX Trading, DLM Trust Company Limited, CitiHomes Finance Company, and BankSofri.
