The company successfully closed the bond, which is the lowest priced bond by any non-bank financial institution in Nigeria, for a similar tenor in the last ten years.
Under this listing, the company’s bond has been successfully admitted to the daily quotations, list of the FMDQ and this means that investors who already hold the bonds can trade while new investors have an opportunity to buy at the secondary market.Commenting on the bond issue, the Managing Director of CardinalStone Partners Limited, Michael Nzewi, said the full subscription demonstrated investors’ confidence in the firm and the ability of the management to create value for stakeholders.
According to him, by successfully raising this financing, the company is better positioned to sustain its impressive growth in the coming years.
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