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PROSHARE |
Tuesday,
August 11, 2020 / 06:20 PM / By Afrinvest Research / Header Image Credit: African Financials
CardinalStone Partners limited ("CardinalStone") is seeking to raise up to N5.0bn in the first series of its N10.0bn Commercial Paper ("CP") Programme in order to
support its short term financing requirements.
CardinalStone is an independent,
multi-asset investment management firm offering an assortment of financial
services to a diverse institutional and retail clientele base. The Company and
its subsidiaries are licensed by the SEC to operate as an Issuing House, Fund
Manager, Broker/Dealer and Registrar; and by the Central Bank of Nigeria
("CBN") to operate as a Finance company.
Over the years, the Company has continued to introduce innovative asset
management and other financial products as well as service offerings as a mode
of differentiation across its various businesses.
Please see below the
details of the offer:
CardinalStone Partners Limited |
|
Series Number |
Series 1 |
Tenor |
270 days |
Effective Yield |
7.0000% |
Discount Rate |
6.6558% |
Issuer Rating |
'Bbb' - by Agusto & Co. |
Minimum Subscription |
Minimum of N5.0m and
multiples of N1,000 thereafter |
Offer Open |
Tuesday, August 11th, 2020 |
Offer Close Date |
Wednesday, August 19th, 2020 |
Settlement Date |
Monday, August 24th, 2020 |
Maturity Date |
Friday, May 21st, 2021 |
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