FMDQ Exchange Lists ARCO Worldwide’s ₦2.81bn Commercial Paper to Drive Growth, Innovation

FMDQ Securities Exchange Limited (FMDQ Exchange) has admitted to its platform the ₦2.81 billion Commercial Paper (CP) issued by ARCO Worldwide Services Limited, a move aimed at providing the technology-driven firm with short-term financing to expand its operations and strengthen service delivery across Nigeria.

The Commercial Paper comprises a ₦780 million Series 1 Tranche A and a ₦2.03 billion Series 1 Tranche B issued under the company’s ₦30 billion Commercial Paper Issuance Programme.

The quotation, approved by the Exchange’s Board Listings and Markets Committee, reflects FMDQ Exchange’s continued efforts to deepen Nigeria’s debt capital market by enabling businesses to access efficient and cost-effective financing.

ARCO Worldwide Services Limited, a subsidiary of ARCO Group Plc, provides drone-based aerial surveillance, inspection and geospatial intelligence solutions to clients in the oil and gas, security and defence, agriculture, telecommunications and infrastructure sectors.

According to FMDQ Exchange, proceeds from the issuance will be used to meet the company’s working capital needs and support the expansion of its technology-driven services across the country.

The transaction was sponsored by United Capital Plc as Lead Sponsor and Lead Capital Plc as Co-Sponsor, both of which are Registration Members (Quotation) of the Exchange.

Speaking on the successful admission, Group Chief Operating Officer of FMDQ Group Plc, Tumi Sekoni, described the transaction as evidence of the growing importance of Nigeria’s Commercial Paper market in supporting technology-focused businesses.

She noted that as businesses continue to innovate and scale their operations, access to market-based financing remains vital to achieving sustainable growth.

According to her, the successful participation of ARCO Worldwide Services Limited demonstrates the flexibility of the Commercial Paper market in meeting the funding needs of companies operating across diverse sectors of the economy.

Managing Director of ARCO Worldwide Services Limited, Okosubide Mozimo, described the company’s maiden Commercial Paper issuance as a significant milestone, saying the strong investor interest reflected confidence in ARCO’s business model, operational efficiency and long-term growth prospects.

He added that the funds raised would enhance the company’s financial flexibility, facilitate the deployment of advanced drone technologies and reinforce its leadership in aerial intelligence and surveillance services in Nigeria and across Africa.

Also commenting, Managing Director, Investment Banking at United Capital Plc, Dr Gbadebo Adenrele, said the impressive investor response highlighted ARCO Worldwide’s strong fundamentals and strategic position within the fast-growing technology-enabled services industry.

He noted that the successful issuance further demonstrated the effectiveness of Nigeria’s domestic debt capital market in providing indigenous high-growth companies with reliable access to funding.

FMDQ Exchange reaffirmed its commitment to strengthening Nigeria’s short-term debt market by collaborating with issuers, sponsors and regulators to broaden participation in the capital market.

The Exchange added that through transparent quotation processes and robust regulatory oversight, it will continue to provide businesses across various sectors with access to market-based funding while supporting the overall growth and development of Nigeria’s financial markets.