Speaking at the issuance of the CP Programme at the FMDQ Securities Exchange Limited platform, Akere said the issuance would also help the firm to optimise its funding costs by accessing short-term funding at relatively competitive interest rates from institutional investors.
“The CP Programme will enable Sundry Foods Limited to issue commercial papers to diversify its funding sources in order to facilitate business growth and optimise its funding costs by accessing short-term funding at relatively competitive interest rates from institutional investors”. The successful registration of this CP programme, which is sponsored by CardinalStone Partners Limited , SCM Capital Limited and Stanbic IBTC Capital Limited, all Registration Member of the Exchange, strategically positions the Issuer to raise short-term finance from the Nigerian debt markets at specific times during the CP Programme validity it deems strategically viable, through CP issuances, within the CP Programme limit.
“This is evident in the growth we have experienced in the past year, which has been as a result of visionary leadership and a defined growth strategy. We look forward to engaging market participants under this ₦10.00 billion CP Programme.”