TrustBanc closes 3rd tranche of N10bn debt issue

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Get Nigeria out of this economic crunch or forget your chances in 2023 ― Middle Belt Group tells APC

By Peter Egwuatu

TrustBanc Holdings Limited (TrustBanc), has said it successfully closed its series-3 Commercial Paper (CP) issue for a total amount of N4.2 billion on September 2, 2021.

The 180-day CP was issued at a discount of 12.6573 per cent and a minimum subscription of N5 million.

TrustBanc is rated A- by DataPro Limited and the issue was approved by FMDQ Securities Exchange Limited (FMDQ). 

READ ALSO:World Bank advocates debt relief for countries owing over $8.7trn

Subscriptions to this series were made mainly by institutional investors, with significant proportion by asset and fund managers.

“I would like to thank all the subscribers to this commercial paper issue. This support represents a strong mark of confidence in TrustBanc, its financial performance, its business model and its growth strategy.

 The proceeds from the transaction will be utilised to finance the growing portfolio of assets within the TrustBanc Group. In addition, our Group is proud to contribute to the…



Source: Vanguard Newspaper