Following the due diligence process, the FMDQ Exchange is pleased to announce the approval of the Dufil Prima Foods PLC ₦8.00 billion Series 5 and ₦22.00 billion Series 6 Commercial Papers, CPs, under its ₦30.00 billion CP Issuance Programme on its platform.
Dufil Prima Foods PLC (“Dufil”) is a consumer food manufacturing company based in Nigeria and a subsidiary of Tolaram Group, which manufactures and distributes food products such as instant noodles, vegetable cooking oil, baking flour, amongst others. The quotation of these CPs, which are sponsored by Stanbic IBTC Capital Limited – a Registration Member (Quotations) of the Exchange, strategically positions Dufil to raise short-term finance easily and quickly from the Nigerian debt capital market, DCM. The proceeds from these CPs will be used to refinance the food giant’s short-term debt obligation as well as support its working capital.
As more corporate institutions continue to tap the CP market to meet their short-term funding needs and liquidity requirements, FMDQ Exchange has remained relentless in taking the necessary steps towards promoting transparency, governance, integrity and efficiency in the Nigerian CP market and overall debt capital market. FMDQ Exchange will, through the championing of key market development initiatives, take commendable steps to support the realisation of a globally competitive financial market and vibrant economy.
”FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future”, FMDQ noted.