Skymark Partners raised N7.42 billion through its latest commercial paper issuance, as part of its ongoing N30 billion Commercial Paper (CP) programme.
This latest issuance comprises three series: Series 42: A 91-day tenor valued at N1.45 billion, issued at a 23.09 percent discount rate; Series 43: A 182-day tenor raising N1.66 billion at a 23.8 percent discount rate and Series 44: A 270-day tenor worth N4.31 billion, offered at a 23.88 percent discount rate.
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The commercial papers, issued on March 28, mark the latest in a series of issuances by Skymark Partners since 2022. The firm initially launched a N10 billion CP programme in February 2022. However, strong investor demand and increased funding requirements prompted an expansion of the programme to N30 billion.
Since launching the programme in 2022, Skymark Partners has issued approximately N46.76 billion in commercial papers. Of this amount, the company has successfully redeemed about N30.72 billion.
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The company, a proprietary investment firm, has holdings in the Nigerian real estate, agriculture, and education sectors.
