Tag
COMMERCIAL PAPERS
Nigerian corporates are increasingly turning to the short-term capital market for funding as high interest rates make traditional borrowing channels, particularly bank overdrafts and long-term debt, far more costly.
Nigeria’s financial landscape has witnessed a notable shift in corporate financing patterns, with Commercial Papers (CPs) emerging as a preferred short-term funding tool.
Nigerian banks are increasingly relying on costly short-term commercial papers (CPs) to address liquidity challenges as the Central Bank of Nigeria (CBN) enforces stringent cash reserve policies, driving up deposit costs, Bloomberg reports.
SG Holdings Limited has launched its Series 1 and Series 2 commercial papers, with a combined issue size...
MTN Nigeria has officially notified the Nigerian Exchange and the public of its intent to issue Series 15 and 16 Commercial Papers, targeting N50 billion.
Dangote Sugar Refinery announced the successful issuance of its N42.79 billion Series 4 and 5 commercial papers, issued at 23% and 25% respectively.
As of January 10, 2024, Nigerian companies have already issued about N90.01 billion in commercial papers.
According to data from the FMDQ Group, 56 Nigerian companies raised N1.504 trillion through commercial papers in 2023, representing a whopping 499% increase from the N251 billion raised in 2022.
With more companies turning to commercial papers as less expensive financing means in Nigeria, there is a need to educate investors on some of the nuances surrounding CPs as they are often called.
FMDQ Securities Exchange Limited has announced the admission of Rand Merchant Bank Nigeria Limited's commercial papers
FMDQ has announced the quotation of the Coleman Technical Industries Limited N2.51 billion Series 5 and N7.50 billion Series 6 Commercial Papers
Five Nigerian corporates issued commercial papers worth N215 billion in order to improve their balance sheet and scale up their operations during the month of August 2022.