TrustBanc Raises N5.85bn From Commercial Paper.

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TrustBanc Holdings Limited, the parent company of three regulated financial services companies; said it has successfully closed its series 7 and 8 commercial paper issue for a total amount of N5.85bn; under its FMDQ approved N20bn CP programme.

It said in a statement that the 181 and 269day CPs were issued at a discount of 11.3260 and 12.2784%, respectively.
The Group Chief Executive Officer, Mr Abu Jimoh, described the successful issuance as a strategic milestone; in its bid to establish TrustBanc as a leading financial service provider in Nigeria.

since the initial program’s registration more than a year ago; the company has continued to see active and growing participation from the market. Demonstrating continued investor confidence in TrustBanc and its growth trajectory, the statement said.

In addition, four series with a total face value of N8.7bn have matured under TrustBanc’s CP programme. And the company has successfully paid back each of the series in full at maturity.

Speaking on behalf of the dealers, Director at UCML Capital Limited, Mr Egie Akpata, said; “The record level of subscription and diverse participation in these series indicates widespread acceptance by institutional investors of TrustBanc Holdings as an issuer of choice.”


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