Culled—Proshare
August 11, 2020
By Afrinvest Research
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. ‘A3’ (Shortterm); ‘BBB-‘ (Longterm) by GCR ‘A2’ (Shortterm); ‘A-‘ (Longterm) by DataPro |
| 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 |
Rates are valid till 09:00am on Wednesday (19-Aug-20)
*Please note that the minimum subscription for Commercial Papers is N5,000,000.00
To invest in the CardinalStone Partners Limited Commercial Paper, send an email to – brokerageteam@afrinvest.com
