Financial institution, Fast Credit Limited, has announced the successful redemption of its Series 2 Commercial Paper Issuance.
In a statement on Monday, the firm said that its resounding success in redeeming this short-term debt instrument reflects not only its financial stability, but also its dedication to meeting its obligations in a timely and efficient manner.
The Series 1 Commercial Paper which offered competitive interest rates, making it an attractive choice for investors seeking short-term, low-risk investments was paid out on time in September. The investors received their principal investment along with the agreed-upon interest.
The Series 2 Commercial Paper, a crucial component of Fast Credit’s diversified financing strategy, was also issued to raise capital to increase the company’s market share and brand growth. The company’s ability to navigate the financial landscape and strategically manage its debt instruments underscored its robust financial health and adherence to sound fiscal practices, the statement said.
It stated, “The payout, executed seamlessly, is a result of meticulous financial planning and disciplined execution. Fast Credit has consistently demonstrated its commitment to transparency and accountability, factors that contribute to the trust and confidence placed in the company by investors and stakeholders alike.”
The Chief Executive officer, Fast Credit, Emeka Iloelunachi, stated, “We are thrilled to announce the successful payout of our Series 2 Commercial Paper Issuance. This achievement reflects not only the strength of our business but also the dedication of our team and the trust our investors place in us. We remain committed to maintaining the highest standards of financial integrity and transparency.”
“Investors who participated in the Series 2 Commercial Paper Issuance on June 5, 2023 received payout on November 30. Fast Credit has always taken pride in meeting its financial obligations punctually, highlighting the reliability of Fast Credit as a sound investment choice.
The successful redemption contributes to the overall positive narrative surrounding the company’s financial performance and enhances its reputation within the financial markets.
“This milestone is not only a cause for celebration within the company but also for the broader community of investors, analysts, and stakeholders who closely follow Fast Credit’s financial trajectory. The successful payout reflects positively on the company’s management, its financial stewardship, and its ability to navigate the complexities of the financial landscape.”
