DLM Capital Group Raises N5.304Billion In 106% Oversubscribed Commercial Paper Issue
Three weeks after DLM Capital Group announced the issuance of its N5Billion Series 10 and 11 Commercial Paper Notes under its N20Billion CP Issuance Programme, was 106% subscribed, as the firm secured N5.304Billion.
This round was led by FBNQuest, supported by UCML, DLM Advisory and Afrinvest.
The 180-day-tenor Series 10 and 268-day-tenor Series 11 were both issued on the 18th of January 2023 with maturity dates of July and October 2023, respectively. Sonnie Babatunde Ayere, Group CEO, of DLM Capital Group noted “We are thrilled with the overwhelming investor demand and confidence for this financing.
This issue will significantly bolster the company’s treasury and has provided a solid foundation for DLM to grow by making funds available to our domestic companies in a variety of sectors and consumers seeking everyday loans.
As always transparency is key so, we also look forward to updating investors on our progress in the coming months.”
Founded in 2009, DLM Capital Group has expanded from its initial investment banking forte to include trusteeship, securities sales and trading, asset management, foreign exchange sales and trading, corporate lending, nominees, and digital banking. DLM Capital Group Limited is a diversified financial services institution comprised of brands such as DLM Advisory, DLM Asset Management, DLM Securities, DLM FX Trading, DLM Trust Company Limited, CitiHomes Finance Company, and BankSofri™.
DLM has an investment grade rating from all 3 rating agencies.