FCMB Offers 20.9440% on 268-Day Commercial Paper
The banking subsidiary of FCMB Group, FCMB Limited, has opened N70 billion worth of commercial paper for investors’ subscription at a discount rate of 23%.
The bank seeks to raise the amount via sales of series 1 and series 2 as part of its N100 billion multicurrency commercial paper issuance program scheduled to close on Tuesday, 3 June 2025. The 180-day commercial paper is priced at a discount rate of 20.6570%, while the bank is offering 20.9440% for 268-day maturity papers.
According to the offer document, the net proceeds from the issuances will be used to shore up the bank’s short-term capital needs and strengthen its capacity to lend to the private sector in order to stimulate economic growth.
The bank is a subsidiary of FCMB Group, a leading financial services company in Nigeria, with key operations in banking, consumer finance, investment management, investment banking, and financial technology.
FCMB offers dependable financial solutions that contribute to the growth and success of individuals, businesses, and communities, according to Afrinvest Capital Limited. As of December 2024, the total assets of the bank reached N6.90 trillion, compared to the N4.31 trillion recorded in December 2023.
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