Home Real Estate Veritasi Homes & Properties registers N10bn commercial paper at FMDQ

Veritasi Homes & Properties registers N10bn commercial paper at FMDQ

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FMDQ Securities Exchange Limited has approved the registration of the Veritasi Homes & Properties Limited N10.00 billion Commercial Paper (CP) Programme on its platform.

Veritasi Homes & Properties is a premium real estate company providing marketing, advisory and developmental services across the real estate value chain in Nigeria. The company’s vision is to be a world-class real estate development company driven by value innovation and optimum service to deliver affordable homes.

The Exchange said: “the CP Programme positions the issuer to raise finance for a tenor up to 270 days from the debt market at a time in the future it deems suitable. The registration of this CP Programme on the Exchange endorses FMDQ Exchange’s role as a market organiser and lends credence to its reputation of pioneering innovation within the Nigerian financial markets.”

Speaking on the successful CP Programme registration, the managing director, Veritasi Homes & Properties, Mr. Nola Adetola, stated that the company is delighted with the successful registration by FMDQ Exchange of its N10.00 billion CP Programme. The approval of this CP Programme represents a significant milestone in our short-term growth aspirations.

“We are delighted that the proceeds from the issuance of the CP will be applied to develop superior real estate projects designed for clients at home and in the diaspora. We want to thank Mega Capital Financial Services Limited, the transaction sponsor, and Pathway Advisors Limited, our financial adviser, for their efforts and professionalism in getting this programme approved. Our commitment as a brand to building a trustworthy business remains, and we look forward to other future engagements with the capital market,” he pointed out.

The managing director of Mega Capital Financial Services, Mr. Emmanuel Egbumokei, mentioned that “Veritasi Homes & Properties is a real estate development company with a focus on creating homes for both the low and middle-income earners in Nigeria. This approved CP Programme will enable Veritasi Homes & Properties Limited access to funding from the debt capital markets to actualise its strategic objectives.”

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