NEWS & INSIGHTS

First Series Commercial Paper Drawdown For The Romco Group

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First Series Commercial Paper Drawdown For The Romco Group

London / Lagos – April 2024 – Romco Group (“Romco”) is pleased to announce a significant achievement in its journey towards the optimisation of capital structure to drive sustainable growth. Romco successfully secured the first series drawdown of Naira 1.1 billion for the approved Commercial Paper arranged by Quantum Zenith Capital & Investments Limited.

This milestone is a testament to Romco’s commitment in establishing robust institutional partnerships to deliver on strategic plans. The funds obtained will be used as working capital, empowering Romco to further enhance its procurement capabilities and drive scaled repatriations of sale proceeds in the United States Dollars to Nigeria.

“We are delighted to announce our introduction to African capital markets and subsequent drawdown of our first series from the approved commercial paper. This is a significant milestone which demonstrates our dedication to build a sustainable future.” said Raymond Onovwigun, Chief Executive Officer. He continued, “Our accessibility to institutional capital positions us to build on our credentials as one of the major secondary materials producers from Nigeria. These strategic initiatives work to develop Romco as a regional leader over the long term and deliver on our mission to transform the production of metals to help solve the climate crisis.”

 

 

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