Lafarge Africa Set to Tap the Commercial Paper Market… registers ₦60.00 billion Commercial Paper Programme with FMDQ
In maintaining its support for the development of the Nigerian debt capital markets (DCM), FMDQ OTC Securities Exchange (FMDQ or the OTC Exchange) uses its platform, amongst others, to efficiently enhance the registration, listing, quotation and trading of debt securities in the Nigerian financial market space. In this regard, the FMDQ Board Listings, Markets and Technology Committee had yesterday, October 18, 2017, approved the registration of the Lafarge Africa PLC ₦60.00 billion Commercial Paper Programme (the Lafarge CP Programme), to the platform of the OTC Exchange.
With this CP Programme registration, Lafarge will be able to easily raise short-term finance from the DCM, within the Programme limit, to support its business operations as at when required in the future. This is well in line with FMDQ’s aspiration to support institutional growth and stimulate continuous development of the Nigerian economy at large.
FMDQ continues to exert commendable efforts in aligning the Nigerian financial markets to international standards, and has, through the promotion of product innovation and the championing of key market development initiatives, ensured that opportunities abound for the markets under its purview. This CP Programme registration comes shortly after the OTC Exchange hosted the 2017 Nigerian Debt Capital Markets Conference on September 28, 2017, which availed local and international market participants a well-rounded platform to discuss and strategise on actionable steps to effectively position the Nigerian DCM for growth within the global financial markets space.