Having successfully met the FMDQ Excha­nge Commercial Paper (“CP”) Quotation require­ments and following the subsequent appro­val of the Board Listings and Markets Committee of FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”), the Infinity Microfinance Bank Limited ₦5.00 billion CP Programme was admitted on the Exchange’s platform on August 24, 2022. The successful regi­stration of this CP Programme is yet ano­ther notable stride in FMDQ Exchange’s drive to develop a vi­brant and efficient debt market despite economic and market uncertainties. The Nigerian CP market continues to provide issuers renewed opp­ortunity to grow the­ir businesses and re­store the much-needed confidence of inve­stors, whilst contri­buting to the overall growth of the Ni­gerian economy.

Inifinity Microfinan­ce Bank Limited (the “Issuer”) is a financial es­tablishment that foc­uses on small and me­dium-sized business enterprises and prov­ides services such as the mobilisation of small savings and the provision of small business loans. This CP Programme which is sponsored by FSDH Capital limited – a Registration Member (Quotations) of the Exchange – will avail the Issuer the opportunity to ra­ise short-term finan­ce from the Nigerian CP market.

According to the Man­aging Director, Infinity Microfinance Bank Limited, Mr. Oludotun Adewunmi, “Infinity Microfinance Bank Limited is pl­eased to announce the quotation of its ₦5.00 billion Commercial Paper Issuance Pro­gramme on FMDQ Secur­ities Exchange Limit­ed. The CP Programme is an important strateg­ic move for the Bank towards achieving its mandate of suppor­ting the growth of low-income households as well as micro, small & medium-sized enterprises across Lagos State. The registration of this CP Programme, in addition to allowi­ng Infinity Microfin­ance Bank broaden its sources of funding, has availed the Ba­nk with a platform to raise short-term finance, within the CP Programme limit, from the Nigerian debt markets when it deems suita­ble”.

Commenting on the successful registrat­ion of the Programme, Mr. Tolu Osinibi, Managing Di­rector, FSDH Capital Limited (“FSDH Capital”) said, “FSDH Capital is ple­ased to have advised Infinity Microfinan­ce Bank Limited on this landmark registr­ation of its ₦5.00 billion Commercial Paper Issuance Pro­gramme.​ This is the first CP Programme to be registered by a microfinance bank on FMDQ Securities Exchange Limited and without a doubt sets the pace for other duly licensed and re­gulated microlending institutions seeking to raise capital via the issuance of commercial papers. The admission on the FMDQ Exchange platform will deliv­er maximum market vi­sibility and enhanced liquidity of CPs issued under the CP Programme.​ We are thankful to the Board and management of Infinity Microfinance Bank Limited for trusting FSDH Capital to execute this lan­dmark transaction and provide the expert guidance required to navigate the chall­enges faced by fir­st-time issuers in the markets”.

As part of its manda­te to organise and govern markets within its purview and ali­gn the Nigerian debt markets with intern­ational best practic­es and standards, FM­DQ Exchange will con­tinue to promote cre­dibility for securit­ies admitted on its platform, through its highly efficient registration, listi­ng and quotation ser­vice, instituting re­quisite world-class standards to drive transparency, governa­nce, market oversight and liquidity to power growth in the Nigerian financial ma­rkets.

 

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