DLM Capital redeems series 1, 2, 3 commercial papers

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By Lydia Ngwakwe

Lagos, Sept. 19, 2022 DLM Capital Group on announced the successful redemption of its N1.24 billion Series 1, N1.01 billion Series 2 and N1.27 billion Series 3 Commercial Papers (CPs), under its N20 billion Commercial Paper Issuance Programme.

The Head, Corporate Communications, FMDQ, MS Chinwendu Ohakpougwu, said, in a statement in Lagos, that the Commercial Papers, which were all issued on the FMDQ Securities Exchange matured on May 31, Aug. 12 and 29 respectively.

The issuance of the CPs, she said was in line with best practice and the FMDQ had been informed of their redemption.

She said the three series garnered investments from a variety of investors ranging from Pension Fund Administrators, Asset Managers, Insurance companies and Banks.

Commenting on the successful redemption, the Group CEO of DLM Capital Group, Mr Sonnie Ayere, said, “We are pleased to have fully repaid all the investors in the Series 1, Series 2 and Series 3 CP issuances.

“We thank all our investors for their participation and reiterate our commitment to being a counterparty that can be relied on for the long term.

“We have been around for 13 years, and we will continue to contribute our quota to Nigeria’s development.”

He added that the redemption of the CP reflected DLM’s capacity to meet its financial obligations as and when due as its intention was to remain an active issuer in the commercial paper market.