United Capital Plc has secured the approval of FMDQ Securities Exchange Limited for the increase in the size of its existing N20 billion Commercial Paper (CP) programme to N50 billion.
The validity period of the CP Programme has also been extended to October 18, 2022.
Following the approval of the CP Programme increase, the Company has successfully raised N19.7 Billion in its recently issued Series 5, 6 and 7 CP Issues.
The 180-day and 270- day issuances were completed at between 11.9% and 13%, with firm commitments from a pool of 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.
United Capital Plc is a leading financial services group in Africa focused on leveraging technology to empower businesses, individuals, and governments with excellent financial services in Investment Banking, Asset Management, Trusteeship, Securities Trading, Wealth Management and Consumer Finance while contributing to economic growth and prosperity across Africa.
Since it was founded over 50 years ago, United Capital Plc has cultivated and sustained a heritage of excellence in the financial services sector in Africa. Its track record of transaction execution, industry leadership and client focus are unmatched. It has achieved this by providing top-of-the-line financial services, consistently demonstrating a commitment to execution, excellent service delivery and client satisfaction.
Through the years, the Group has innovated with each season, and found smart ways to provide even more value to its clients by showing a spectacular ability to adapt to change.