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N20bn Series 1 Commercial Paper Repayment Announced – Coleman

N20bn Series 1 Commercial Paper Repayment Announced – Coleman

Coleman Technical Industries Limited has announced the full repayment of its Series 1 Commercial Paper (CP) Issuance to investors.

The company promptly fulfilled its obligation on the Series 1 CP issued for 180 days, which matured on January 10, 2022, and informed FMDQ Securities Exchange PLC of the payment in line with best practice.

A leading manufacturer of wires and cables in Sub-Saharan Africa, Coleman, accessed the CP market for the first time last year, in a bid to increasingly diversify its funding structure.

N20bn Series 1 Commercial Paper Repayment Announced - Coleman
AIHS 2022

With a successful outing, the Series 1 CP issuance attracted High Net worth Individuals, Asset Managers, Insurance companies and Pension Fund Administrators.

The company in a release thanked the investing community for their confidence in its instrument, adding that, β€œIt remains optimistic that the successful payment of investors will avail us the global visibility needed to achieve our long-term capital plans.

#Coleman #Wires #Cable #Repayment #Commercial Paper #CP

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