MyCredit Investments Limited, the parent company of FairMoney Microfinance Bank, has completed the full redemption of its ₦5.86 billion Series 6 Commercial Paper issued under its ₦10 billion Commercial Paper Issuance Programme.
The company repaid ₦5,860,319,000 to investors, bringing the Series 6 issuance to full maturity and marking the fulfilment of its financial obligations under the programme.
The redemption represents another transaction by MyCredit Investments in Nigeria’s debt capital market, where companies raise short-term funding from investors through commercial paper and other debt instruments.
According to the company, the successful repayment reflects its continued focus on meeting its obligations to investors while maintaining relationships with funding partners that support its business operations and expansion.
Speaking on the development, Henry Obiekea, Managing Director, FairMoney Nigeria, said the company regarded meeting its commitments to investors as central to maintaining confidence in its business.
“Meeting our commitments to investors is fundamental to how we build and sustain trust. The full redemption of our Series 6 Commercial Paper reflects this commitment and our focus on responsible financial management. We appreciate the confidence our investors have placed in FairMoney and their continued support as we work to expand access to financial services in Nigeria. We wish to thank the FMDQ for providing a strong platform for institutions such as ours to access the Nigeria Debt Capital Markets.”
The Series 6 Commercial Paper was issued as part of MyCredit Investments’ ₦10 billion Commercial Paper Issuance Programme, providing the company with access to funding through Nigeria’s debt capital markets.
Commercial paper is a short-term debt instrument typically used by companies to raise funds for working capital and other corporate financing needs. For issuers, successful redemption at maturity is also an important part of maintaining relationships with investors and supporting future access to capital-market funding.
MyCredit Investments said it remains focused on building a sustainable business around the financial needs of individuals and businesses. The company added that disciplined financial management and long-term relationships with funding partners would remain priorities as it continues to expand.
The company also expressed appreciation to its investors and partners for their support throughout the issuance and redemption process.
FairMoney Microfinance Bank is a Central Bank of Nigeria-licensed microfinance bank that provides digital financial services to customers across Nigeria.
Its products and services include loans, savings, transfers, bill payments, cards and asset financing. Eligible customer deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC), subject to applicable coverage limits and regulatory requirements.