FMDQ Securities Exchange Limited has approved the quotation of TeleAfrica Communications Limited’s N0.13bn Series 1 Tranche A, N0.14bn Series 1 Tranche B, and N3.04bn Series 1 Tranche C Commercial Papers.
The CPs, which total N3.31bn, were issued under the firm’s N20.00bn Commercial Paper Programme.
The Exchange disclosed this in a statement issued on Wednesday, noting that the approval by its Board Listings and Markets Committee reinforces its 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.
According to the Exchange, the net proceeds from the CP issuances will be deployed to support TeleAfrica’s working capital requirements and strengthen its capacity to deliver reliable interconnect infrastructure across
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