FSDH quotes N19.6bn series 3-5 CPs on FMDQ to support short-term funding
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FMDQ Exchange has approved the quotation of FSDH Merchant Bank Limited’s N2.28 billion series 3, N1.79 billion series 4, and N15.53 billion series 5 commercial papers under its N40 billion commercial papers issuance programme on its platform.
The company stated that the net proceeds from the quotation of the FSDH Series 3 – 5 CPs, which is sponsored on FMDQ Exchange by Stanbic IBTC Capital Limited, will be utilised to support the merchant bank’s short term financing requirements.
According to FMDQ, the successful admission of these commercial papers after the due approval attests to the highly efficient time to market and ‘second-to-none listing and quotation services it offers.
“With its streamlined and efficient registration process, FMDQ Exchange continues to show its steadfastness through the provision of a world-class quotation service, availing issuers and investors, global visibility, confidence and protection in the markets,” it said.
The securities exchange market, while commending FSDH Merchant Bank for its continued trust and faith in the exchange, further reiterated that the exchange will continue to work collaboratively with market stakeholders to align the nation’s debt capital market (DCM) to international standards, adding that it has taken commendable steps to ensure that growth and development opportunities abound for the markets under its purview.