Afrinvest (West Africa) Limited has once again demonstrated its unwavering commitment to financial excellence and investor confidence by successfully redeeming of its N4.23 billion debut Series 1 Commercial Paper (CP).
This milestone, achieved on the FMDQ Securities Exchange Limited platform, underscores Afrinvest’s adherence to best practices in financial management and obligation fulfilment.
Issued on January 25, 2024, the Series 1 CP was under its N25 billion Commercial Paper Issuance Programme and recorded a remarkable 144% oversubscription rate.
This significant interest from investors reflects the strong confidence in Afrinvest’s robust profile and the adeptness of its management team in delivering consistent value to stakeholders. The redeemed Series 1 was issued for 180 days at a discount rate of 15.2616%.
Dr. Ike Chioke, the Group Managing Director of Afrinvest (West Africa) Limited, expressed his satisfaction with the successful redemption. He extended his gratitude to all investors and stakeholders in the capital market for their unwavering support and confidence in the Afrinvest brand. Dr. Chioke also commended the professional parties involved in the process and reaffirmed the Group’s commitment to fulfilling its financial obligations punctually.
Suru Daniels, the Managing Director of Afrinvest Capital Limited, highlighted that Afrinvest’s prompt fulfilment of its Series 1 CP obligation was formally communicated to the FMDQ Exchange, aligning with best practices in the industry. He emphasised the Group’s creditworthiness and dedication to maintaining investor confidence in the Nigerian Capital Market.
Afrinvest Capital Limited served as the Sole Financial Adviser and Lead Issuing House for the Commercial Paper Issuance. With the successful redemption of its Series 1 Commercial Paper, Afrinvest continues to set a high standard in the Nigerian financial market, showcasing its reliability and dedication to creating value for its investors and stakeholders.
About Afrinvest (West Africa) Limited
Afrinvest (West Africa) Limited, a capital market holding company licensed by the Securities and Exchange Commission (SEC), offers a comprehensive range of services, including investment banking, securities trading, asset management, trust services, investment research & consulting, and financial technology.
Established in 1995 as Securities Transaction and Trust Company Limited (SecTrust), Afrinvest has grown into a reputable wealth advisory firm known for delivering world-class financial solutions across select Sub-Saharan African markets.
Afrinvest’s six operating subsidiaries include Afrinvest Asset Management Limited (AAML), a portfolio manager; Afrinvest Capital Limited (ACL), an issuing house and investment banking unit; Afrinvest Consulting Limited (ACOL); Afrinvest Securities Limited (ASL), a broker-dealer and member of the Nigerian Exchange Limited (NGX); Afrinvest Trustees Limited (ATL); and Andromeda Technology Solutions Limited (Andromeda).
