FMDQ Exchange lists N30.05 billion fresh Commercial Papers in one week

Nigeria’s fixed-income market witnessed renewed momentum as the FMDQ Securities Exchange approved the quotation of new commercial paper (CP) issuances worth more than N30.05 billion across three leading companies Skymark Partners Limited, HillCrest Agro-Allied Industries Limited, and Champion Breweries Plc.

The three listings announced in the last one week between October 15 and 24 highlight sustained corporate interest in Nigeria’s short-term debt market as firms seek flexible, cost-effective funding amid a tight credit environment.

According to FMDQ Exchange, Skymark Partners Limited secured approval for the quotation of its N11.49 billion Series 48–50 CPs under its N30 billion issuance programme, while HillCrest Agro-Allied Industries Limited listed N3.56 billion Series 8–10 CPs under its N10 billion programme.

Similarly, Champion Breweries Plc gained approval for N4.22 billion Series 1 and N10.78 billion Series 2 CPs, bringing the company’s total listed CPs to N15 billion under its approved programme.

These listings reaffirm the FMDQ Exchange’s pivotal role in facilitating efficient access to the domestic debt capital market, enabling corporates to raise short-term funding to support working capital, operations, and expansion projects.

VFD Rights Issue commences trading 

In a related development, the Nigerian Exchange Group (NGX) also announced the activation of the trading code for VFD Group Plc’s Rights Issue, which officially opened on Wednesday, 15 October 2025. The offer covers 5,067,396,400 ordinary shares of N0.50 each at N10 per share, on the basis of two new shares for every three held as at the close of business on Friday, 8 August 2025.

The Rights Issue marks another major capital-raising exercise within Nigeria’s capital markets, offering shareholders an opportunity to increase their equity stake while enhancing VFD Group’s capital base.

The move is expected to strengthen the company’s financial position, improve liquidity, and fund ongoing expansion projects in the financial services ecosystem.

Market analysts describe the latest activities on FMDQ’s platform as reflective of deepening investor confidence in Nigeria’s corporate debt and equity markets, driven by transparency, robust regulation, and competitive listing requirements that appeal to both institutional and retail investors.

Corporate Issuances reinforce investor confidence 

The combined CP quotations and rights activation underscore the Exchanges’ expanding role as a key enabler of capital formation, supporting both private and publicly listed entities in accessing diverse funding options.

Over the past two years, FMDQ’s platform has emerged as the preferred marketplace for corporates seeking to issue commercial papers — short-term debt instruments that provide quick liquidity while offering investors competitive yields.

For Skymark Partners, HillCrest Agro-Allied, and Champion Breweries, the latest approvals signal both investor trust and the strong creditworthiness of Nigerian corporates operating across finance, manufacturing, and agriculture.

The sustained issuance momentum also points to the resilience of Nigeria’s debt market despite macroeconomic pressures, as companies continue leveraging cheaper capital market funding channels to sustain growth and operational efficiency.

Key Numbers at a Glance 

• N30.05 billion raised cumulatively across new FMDQ listings.
• N11.49 billion – Skymark Partners (Series 48–50 CPs under N30 billion programme).
• N3.56 billion – HillCrest Agro-Allied (Series 8–10 CPs under N10 billion programme).
• N15 billion total – Champion Breweries (N4.22bn Series 1 & N10.78 billion Series 2 CPs).
• N10/share – VFD Group Rights Issue price for 5.07 billion shares.
• 2-for-3 – Rights ratio offered to eligible shareholders.

FMDQ Exchange lists N30.05 billion fresh Commercial Papers in one week  - Nairametrics