FBNQuest Merchant Bank has successfully listed its N7.34 billion Series 19 Commercial Paper on the FMDQ Securities Exchange platform. The merchant bank explained that the quotation was under its N100 billion Commercial Paper Programme.
According to a statement by FMDQ, the transaction followed the due diligence process and was approved by the Board Listings and Markets Committee of the Exchange and further stating that the net proceeds from the CP will be used to support the issuer’s short term funding requirements.
The FMDQ Exchange, in a statement on the CP quotation, said it has continued to avail its credible and efficient platform as well as tailor its Listing and Quotation services to suit the needs of issuers and its Registration Members.
“The timely admission of this CP issue, and in general, all securities on FMDQ Exchange, is reflective of the potential of the Nigerian debt capital market and the commendable level of confidence demonstrated by both issuers and investors in the market.
“In line with the value proposition of FMDQ Exchange, the CP shall be availed global visibility (through the Exchange’s website and systems), governance, continuous information disclosure to protect investors’ interest and credible price formation, amongst other benefits derived from the FMDQ Exchange platform”, FMDQ added.
FBNQuest Merchant Bank is a merchant banking firm that offers an array of financial services, including coverage & corporate banking, financial advisory, debt capital markets, equity capital markets, institutional sales, fixed income currency & treasury and wealth management. The bank is committed to finding innovative solutions for its client base of high net-worth individuals, small and medium enterprises, corporates, financial institutions and governments, whilst catering to their diverse financial needs.
