United Capital Plc has received the approval of FMDQ Securities Exchange Limited to increase the size of its existing N20,000,0000.000.00 (Twenty Billion Naira) Commercial Paper programme to N50,000,000,000.00 (Fifty Billion Naira).
The validity period of the Commercial Paper Programme has also been extended to October 18, 2022.
This was disclosed by Untied Capital Plc in a corporate action notification published on the Nigerian Exchange.
According to the document signed by Leo Okafor, Group Company Secretary, the company has successfully raised N19.7 billion in its recently issued Series 5, 6 and 7 CP Issues following the approval to increase the size.
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The 180-day and 270- day issuances were completed at between 11.9% and 13%. The company said it received commitments from institutional investors, including asset managers and pension funds.
FSDH Capital Limited, United Capital Plc, and UCML Capital Limited acted as Arrangers to the transaction. Olaniwun Ajayi LP acted as Transaction Counsel, according to the document.
The equity price of United Capital Plc is up 1.02% at N6.96 per share on the floor of the Nigerian Exchange at the time of this report.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
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