FMDQ Securities Exchange Limited has approved the quotations of HillCrest Agro-Allied Industries Limited’s N2.42 billion Series 1 and N9.31 billion Series 2 Commercial Papers (CPs) under its N30 billion CP Issuance Programme. This approval by the Exchange’s Board Listings and Markets Committee underscores the important role of the Nigerian debt capital market in supporting access to efficient short-term funding for agro-processing enterprises.

HillCrest Agro-Allied Industries Limited (HillCrest) is a Kwara State-based agro-processing company operating in the Nigerian rice milling sub-sector. The company produces parboiled rice from locally sourced paddy through its expanding, technology-driven milling operations. Proceeds from this CP issuance, sponsored by Comercio Partners Capital Limited, a Registration Member (Quotation) of FMDQ Exchange, will be deployed to optimise the Issuer’s working capital, support its ongoing production capacity expansion, and strengthen its position within the Nigerian agro-allied value chain.

Dipo Omotoso, senior vice president, FMDQ Exchange, stated: “HillCrest Agro-Allied Industries Limited’s access to the CP market demonstrates how Nigeria’s capital markets continue to support the growth and expansion plans of home-grown agro-processing companies. As local enterprises continue to scale production and strengthen supply chains, FMDQ Exchange remains committed to providing the market infrastructure needed to connect these enterprises with the funding required to sustain their growth.”

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Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.