THE full repayment of Coleman Technical Industries Limited’s series 1 commercial paper issuance to investors has been announced.
The company said in a statement that it promptly fulfilled its obligation on the 180-day series 1 CP issued on January 10, 2022, and that it informed FMDQ Securities Exchange Plc of the payment in accordance with best practice.
According to the statement, the company entered the CP market for the first time last year in order to diversify its funding structure.
Adding that the series 1 CP issuance attracted high net worth individuals, asset managers, insurance companies, and pension fund administrators.
The company expressed gratitude to the investing community for their faith in its instrument, stating that it remained optimistic that the successful payment of investors would provide the Coleman brand with the global visibility required to achieve its long-term capital goals.
“We congratulate the professional parties involved in the process and remain optimistic that the successful payment of investors will avail us the global visibility needed to achieve our long-term capital plans,” it said.
According to the statement, Coleman received financial advice from Skystone Capital and Investment Limited.
While Cardinal Stone Advisory Limited, FSDH Capital Limited, and SFS Financial Services Limited acted as joint issuing houses with Coronation Merchant Bank Limited as the lead issuing house.
