MyCredit Investments Limited, owner of FairMoney Microfinance Bank, has fully redeemed its ₦5.86 billion Series 6 Commercial Paper, completing its repayment obligation to investors under its ₦10 billion Commercial Paper Issuance Programme.
The company repaid ₦5,860,319,000 to investors following the maturity of the Series 6 issuance, marking another transaction for the company in Nigeria’s debt capital market.
The Brandspur Banking News Desk reports that the redemption forms part of MyCredit Investments’ funding activities and underscores its stated focus on meeting obligations to investors while maintaining relationships with funding partners.
FairMoney Nigeria Managing Director, Henry Obiekea, said fulfilling commitments to investors remains central to the company’s approach to building confidence in its financial management.
He said the successful repayment reflected the company’s focus on responsible management while appreciating investors for their confidence and continued support as FairMoney works to expand access to financial services in Nigeria.
Obiekea also acknowledged the role of FMDQ in providing a platform through which institutions such as MyCredit Investments can access Nigeria’s debt capital market.
The Series 6 transaction was issued under the company’s ₦10 billion Commercial Paper Issuance Programme, providing part of the framework through which MyCredit Investments participates in the domestic debt market.
The company said maintaining disciplined financial management and long term relationships with funding partners would remain a priority as its business expands.
For investors, the completed redemption represents the settlement of the financial obligation attached to the Series 6 commercial paper. MyCredit Investments also thanked investors and other partners involved in the issuance and redemption process.
The company, which operates FairMoney Microfinance Bank, said it remains focused on serving the financial needs of individuals and businesses while building what it described as a sustainable business.
