Skymark Partners Limited redeems NGN1.2bn Series 3 Commercial Paper under its NGN5bn Commercial Paper Program

Skymark Partners Limited, a private investment company focused on investing and creating wealth in critical growth sectors of the Nigerian economy, has announced the maturity and successful redemption of its Series 3 Commercial Paper (CP) under its NGN5bn Commercial Paper Program.

The NGN1.184mn 182-day Series 3 commercial paper that was issued and listed in early June this year on the FMDQ Stock Exchange, matured on December 19, 2022. In accordance with best practices, the Exchange has been informed of the refund. .

Commenting on the successful exchange, Mr. Egie Akpata, FCCA, Chairman of Skymark Partners Limited, said: “We are pleased to have fully reimbursed all investors in the Series 3 issuance. We thank all institutional investors for their participation and reiterate our commitment to being a counterparty that can be counted on for the long term.”

Furthermore, he stated, ‚ÄúThis third CP redemption reflects Skymark’s ability to meet its financial obligations when due, regardless of market conditions. We intend to remain an active issuer in the commercial paper market.”

The trend of continued revenue and earnings growth in fiscal 2021 resulted in DataPro affirming Skymark’s long-term rating of A and short-term rating of A1. The rating remains valid until June 2023. Unaudited accounts as of September 30, 2022 show strong growth across all key financial metrics for Skymark Partners Ltd.

what you should know

Skymark Partners Ltd is a leading investment firm with interests in financial services, technology, and real estate, among others. Skymark Partners was incorporated in 2009 and is based in Lagos.

Skymark Partners N5bn Commercial Paper Program was listed on the FMDQ Securities Exchange platform in February 2022.

Series 1-6 CPs issued under the program have raised N5.4bn for working capital financing.

CP series 1, 2 and 3 maturities have repaid N2.3bn.

… Skymark Partners Limited redeems NGN1.2bn Series 3 commercial paper under its NGN5bn commercial paper program Read more at… Naijaonpoint.

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