FMDQ lists N23bn debt Securities in move to deepen financial market

In a move to deepen the Nigerian financial system and provide more investment instruments for investors, FMDQ Securities Exchange Limited has listed N23 billion debt securities on its platform as part of efforts to empower the Nigerian financial market, provide a choice platform for the registrations, listings, quotations, and trading of debt securities.

The company said the current business climate, which has been marred by the impact of the coronavirus pandemic has seen most corporates and business entities look to the debt capital markets as a viable avenue to efficiently raise capital in order to meet their financing needs towards business expansion and/or working capital management, amongst others.

And FMDQ said it has listed a total of N23 billion debt securities. For instance, it listed FBNQuest Merchant Bank Funding SPV Plc Series 1 N5.00 billion fixed rate senior unsecured bond, and Coronation Merchant Bank Limited N6.00 billion series 9 and N9.00 billion series 10 commercial paper (CP) notes under its N100.00 billion CP Issuance Programme as well as the Mixta Real Estate PLC N3.30 billion Series 20 – 23 CP notes under its N20.00 billion CP Issuance Programme.

The exchange also admitted the registration of the Guinness Nigeria Plc N10.00 billion CP programme, allowing the company raise funds from the market up to the limit approved within its registered CP Programme as at when the need arises. Issues from this CP Programme will also be quoted on FMDQ Exchange.

According to the exchange, these admissions are reflective of the potential of the Nigerian debt capital market (DCM) and the commendable level of confidence demonstrated by both issuers and investors in the market.

“They also validate the efficient processes and integrated systems through which FMDQ Holdings PLC (FMDQ Group or FMDQ), through its wholly owned subsidiaries,” it said.