FMDQ Securities Exchange Limited has approved the quotation of ARCO Worldwide Services Limited N780million Series 1 Tranche A and N2.03 billion Series 1 Tranche B Commercial Paper (CP) under its N30billion CP Issuance Programme. The approval by the Exchange’s Board Listings and Markets Committee reflects FMDQ Exchange’s commitment to broadening access to the Nigerian debt capital market, providing efficient short-term funding solutions to innovative and technology-driven enterprises.
ARCO Worldwide Services Limited (ARCO), a subsidiary of ARCO Group Plc, provides drone-based aerial surveillance, inspection, and geospatial intelligence solutions to clients across the Nigerian oil and gas, security and defence, agriculture, telecommunications, and infrastructure sectors. The proceeds from this CP issuance, sponsored by United Capital Plc (Lead Sponsor) and Lead Capital Plc (Co-Sponsor), both Registration Members (Quotation) of FMDQ Exchange, will support the Issuer’s working capital needs and strengthen its operational capacity as it scales technology-driven services nationwide.
Commenting on the CP
This post was originally published on this site.
