United Capital Plc has affirmed that the Company has successfully raised N5.3 billion in a Series 1 and 2 Commercial Paper (“CP”) issuance, under its N20 Billion Programme registered with the FMDQ Securities.
The leading Pan-African financial and investment services Group has disclosed that the Commercial Paper issuance, which was approved by the Company’s shareholders at the Annual General Meeting on March 2018, was constrained to regulatory approvals and borne out of the Group’s diplomatic initiatives, aimed at providing innovative financing solutions to the Company’s Corporate, Institutional and Government (parastatals, sovereign and sub-sovereigns) clients.
The United Capital Plc is a leading African investment banking, asset management, trusteeship and securities trading player, providing a bouquet of diverse financial services to individuals, companies and governments, enabling growth at all levels.
Speaking on the development, the Group CEO, Peter Ashade stated that “The Commercial Paper issuance will enable us to provide a wider range of wholesale financing solutions to our clients.”
According to Ashade, it will also further complement our stable funding base and support the growth of our overall business.
“The Series 1 & 2 issuances, with tenors of 182 days and 270 days, were largely subscribed to by individual and institutional investors, with interest significantly tilted towards the 270-day offering”. he CEO said.
Meanwhile, the company was founded over 50 years ago, with its exceptional initiative, United Capital has cultivated and sustained a heritage of excellence in the finance space in Africa.
United Capital provides top-of-the-line financial services across the continent, consistently demonstrating a commitment to execution, excellent service delivery and client satisfaction.
Through the years, we have innovated with each season and found smart ways to provide even more value to our clients by showing a spectacular ability to adapt to change.
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