DLM Capital Group said it has raised N5.304 billion through its Series 10 and 11
Commercial Paper Notes under its N20 billion CP Issuance Programme.
The round, which was led by FBNQuest and supported by UCML, DLM Advisory,
and Afrinvest, was 106% oversubscribed, resulting in the company exceeding its
N5 million target by an additional N304 million.
The 180daytenor Series 10 and 268daytenor Series 11 were both issued on the
18th of January 2023 with maturity dates of July and October 2023, respectively.
How the proceed will be utilized: Sonnie Babatunde Ayere, Group CEO of DLM
Capital Group, noted that the issue would 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,” he said.
What you should know: 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.
Sources:Nairametrics.
