Home Business Viathan Funding Registers Its ₦20bn CP Programme On FMDQ Exchange

Viathan Funding Registers Its ₦20bn CP Programme On FMDQ Exchange

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The Nigerian Commercial Papers (CP) market continues to provide issuers with renewed opportunity to grow their businesses and restore investors’ confidence, simultaneously contributing to the overall development of the Nigerian debt capital market (“DCM”).

In support of the development of the DCM, FMDQ Securities Exchange Limited, through its Board Listings and Markets Committee, has approved the registration of the Viathan Funding PLC ₦20 billion CP Programme.

Viathan Funding PLC is a special purpose vehicle established by Viathan Engineering Limited to raise capital from the Nigerian DCM.

Viathan Engineering Limited is an integrated energy services solutions company in Nigeria that specialises in captive and embedded power generation, providing modular, scalable power-as-a-service to end-users, government agencies, industrial and commercial services, amongst others.

Speaking on the successful CP Programme registration, the Co-Founder/CEO, Viathan Funding PLC, Mr. Habeeb Alebiosu stated, “Viathan Funding PLC is pleased to announce the registration of a ₦20 billion CP Programme.

“This is another step towards positioning Viathan Funding PLC as a leading player in the integrated energy vertical. As we look to consolidate on our growth thus far, access to capital in the form of liquidity support instruments is crucial.

“This CP is a strategic funding initiative which will enable the much-needed agility required for containing lead times associated with infrastructure projects.

“We remain steadfast in our objective to unlock value for our stakeholders, as we develop the requisite infrastructure to facilitate generation, distribution of uninterrupted, environmentally clean electricity and to accelerate gas utilisation in Nigeria”.

Also, the sponsor of the CP Programme and a Registration Member (Quotations) of the Exchange, FBNQuest Merchant Bank Limited, represented by the Head, Capital Markets, Mr. Oluseun Olatidoye, said, “FBNQuest Merchant Bank Limited is pleased about its role as Lead arranger on the registration of Viathan Funding PLC CP Programme under the ₦20 billion Programme. Funds raised under this programme will be utilised to meet the working capital needs of Viathan Funding PLC”.

The registration of this Programme on FMDQ Exchange’s platform demonstrates its continued commitment to project the DCM as the key source of finance for infrastructure and economic development in Nigeria. FMDQ Exchange remains unwavering in its pursuit of product and market innovation as well as stakeholder engagement, towards making the Nigerian financial market globally competitive, operationally excellent, liquid, and diverse, in line with its GOLD Agenda.

 

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