FCMB to raise N20 billion via commercial paper

Nigeria’s FCMB Group Plc has just announced a fundraising commercial paper programme to raise up to N20 billion.

The group said in a statement that it  “is undertaking its inaugural Commercial Paper Issuance (“CP”) under its N100billion-naira CP programme.

“The CP has a tenor of 269 days with the aim of raising up to N20 billion to support the Bank’s short-term funding needs.

“The CP serves as an additional funding source for the Bank.”