Fast Credit Limited Completes N3 Billion Commercial Paper Series

Fast Credit Limited is proud to announce the successful completion of its N3 billion Commercial Paper Series 1, 2, and 3 issuance. This milestone achievement serves as a testament to the trust and confidence that investors have placed in Fast Credit's innovative business model and strategic vision. The commercial paper issuance attracted a diverse range of investors, including pension fund administrators, asset managers, and insurance companies. With its debut issuance, Fast Credit offered three tenors, each with its own yield, catering to the varied investment preferences of the market.

Demand from Wide Range of Investors

The Commercial Paper Series 1, 2, and 3 garnered significant interest from investors, showcasing the robust demand for Fast Credit's offering. With a 91-day Series 1 issuance priced at a 15.00% yield, a 182-day Series 2 issuance priced at a 16.00% yield, and a 270-day Series 3 issuance priced at a 17.25% yield, Fast Credit provided investment options tailored to different time horizons. The success of the issuance was a testament to the market's recognition of the value and potential Fast Credit brings to the financial industry.

Stanbic IBTC Capital Limited played a pivotal role as the Lead Arranger and Issuing and Placing Agent (IPA) for the commercial paper issuance. Their expertise and guidance were instrumental in navigating the complexities of the capital market. Additionally, FSL Securities Limited, Planet Capital Limited, and United Capital PLC acted as Joint Arrangers/IPAs, further bolstering the successful execution of the issuance. The collaboration between these esteemed financial institutions solidified Fast Credit's position in the market.

Reaffirmation of Investor Confidence

Expressing his excitement, Mr. Emeka Iloelunachi, the Managing Director/Chief Executive Officer of Fast Credit, highlighted the significance of this capital market fundraising endeavor. He emphasized that the oversubscription of the issuance was a clear reaffirmation of the confidence investors and stakeholders have in Fast Credit's unique value proposition. With the additional capital, Fast Credit is poised to expand its market presence and deliver innovative products and services that will benefit both clients and investors alike.

Advancements in Credit Ratings

Fast Credit's recent achievements in credit ratings further solidify its standing in the financial industry. The company secured a long-term investment grade rating of 'Bbb' with a stable outlook from Agusto & Co, a renowned credit rating agency. Additionally, DataPro awarded Fast Credit a 'BBB+' long-term grade rating with an A2 stable outlook. These accolades validate Fast Credit's commitment to revolutionizing the financial landscape by leveraging technology to drive efficiency, enhance accessibility, and promote financial inclusion.

Leveraging Technology for Operational Efficiency

Fast Credit remains dedicated to utilizing cutting-edge technology to optimize operational efficiencies and enhance the customer experience. By leveraging artificial intelligence and advanced data analytics, Fast Credit is at the forefront of leveraging innovation to transform the financial landscape. These technological advancements enable Fast Credit to deliver seamless and efficient financial solutions while promoting accessibility and financial inclusion.

Fast Credit's successful completion of the N3 billion Commercial Paper Series 1, 2, and 3 issuance highlights the company's strong position in the market and the trust it has garnered from investors. The oversubscription of the issuance underscores the confidence that stakeholders have in Fast Credit's unique value proposition. With its focus on innovation, efficiency, and accessibility, Fast Credit is poised to continue revolutionizing the financial industry and delivering exceptional value to its clients and investors.