FMDQ admits Prima Corporation’s Series 1 CP

COMFORT EKELEME, BUSINESS EDITOR

FMDQ Exchange has approved the quotation of Prima Corporation Limited ₦3.57 billion Series 1 Commercial Paper (CP) under its ₦30.00 billion CP Programme on the Exchange’s platform.

Prima Corporation Limited is a leading manufacturer of preforms and caps in West Africa, supplying a host of international and local brands.

Commenting on the successful CP issuance Group Executive Director, Prima Corporation Limited, Mr. Debasis Roy, said “Prima Corporation Limited is pleased on the quotation of the inaugural Series 1 CP Issuance under the ₦30.00 billion Programme.

“We are delighted at the opportunity to access an alternative source of funding to meet our short-term working capital needs,” he said.

Also, commenting on the quotation, Head, Capital Markets, FBNQuest Merchant Bank Limited, Mr. Oluseun Olatidoye, said, “FBNQuest Merchant Bank Limited is delighted about the quotation of the Prima Corporation Limited inaugural Series 1 CP under the ₦30.00 billion Programme. The funds raised will be utilised to meet the working capital needs of Prima Corporation Limited.  FBNQuest Merchant Bank Limited is also pleased with its intermediation role in assisting businesses to access alternative sources of funding through the domestic debt markets.

Positioned to bring about revolutionary changes in the Nigerian debt markets, FMDQ Exchange, with the collective efforts of its varied stakeholders, shall continue to deliver value-adding services and initiatives, ranging from its highly efficient listings & quotations service to product & market innovations, amongst others.

The quotation of the Prima Corporation Limited CP validates FMDQ Exchange’s conscious drive to support the goals of corporate businesses and to deepen the Nigerian financial markets by steadfastly availing its efficient platform for the registration, listing, and quotation of debt securities.