Yemisi Izuora
FMDQ Securities Exchange Limited (FMDQ Exchange) has approved the quotation of TeleAfrica Communications Limited’s ₦0.13 billion Series 1 Tranche A, ₦0.14 billion Series 1 Tranche B, and ₦3.04 billion Series 1 Tranche C Commercial Papers (CPs) under its ₦20.00 billion CP Programme.
This approval by the Exchange’s Board Listings and Markets Committee reinforces FMDQ Exchange’s role as a trusted platform for short-term capital market financing and broadens access to Nigeria’s debt capital markets for issuers in the telecommunications sector.
TeleAfrica Communications Limited is a Nigerian interconnect clearing house that provides international-to-local voice termination and local interconnect services between mobile network operators, as well as reconciliation and billing solutions that support the seamless exchange of telecommunications traffic across the country. The net proceeds from these CP issuances, sponsored by AIICO Capital Limited (Lead Sponsor), Anchoria Advisory Services Limited, and FCSL Asset Management Company Limited, all Registration Members (Quotations) of the Exchange, will be deployed to support TeleAfrica’s working capital requirements and strengthen its capacity to deliver reliable interconnect infrastructure across Nigeria’s telecommunications industry.
Commenting on the CP quotation, Ms. Tumi Sekoni, Group Chief Operating Officer, FMDQ Group PLC, said: “The quotation of TeleAfrica Communications Limited’s CPs on FMDQ Exchange reflects the growing confidence of Nigeria’s telecommunications sector in the capital markets as a reliable source of short-term funding. FMDQ Exchange remains committed to extending efficient and transparent access to capital across the diverse sectors that underpin Nigeria’s economy, and we are pleased to support TeleAfrica as it strengthens the infrastructure connecting the Nigerian telecommunications industry.”
In the same vein, the Managing Director, TeleAfrica Communications Limited, Mr. Denzil Kentebe, stated: “We are delighted with the successful completion of our CP quotation on FMDQ Exchange. This milestone reflects the confidence investors have placed in our business and growth strategy, while enhancing our financial flexibility to continue investing in infrastructure, technology and service delivery to meet Nigeria’s growing connectivity needs.”
Also commenting on the transaction, the Managing Director, AIICO Capital Limited, Dr. Femi Ademola, stated: “These successful transactions highlights the continued importance of the Nigerian debt capital market as an efficient source of funding for corporates seeking to support their growth and strategic objectives. We thank the Board and Management of TeleAfrica Communications Limited for their trust, collaboration and commitment throughout the transaction, and also extend appreciation to the investing community for their continued support.”
Through its comprehensive suite of services, FMDQ Exchange continues to enable market participants to unlock capital, drive economic development, and achieve long-term financial success.