By Princewill Ekwujuru
STANBIC IBTC Bank Plc, has received approval from the FMDQ OTC PLC for the renewal of its shelf registration of N100 billion Multicurrency Commercial Paper (MCP) Programme.
Chief Executive, Stanbic IBTC Bank Plc, Dr. Demola Sogunle, said that the renewal of the N100 Billion MCP is in line with the bank’s strategic drive to promote alternative capital sources including debt financing. Pursuant to the approvals, both programmes shall be included on the quotations list of the FMDQ, and all relevant information on the commercial paper (CP) programme uploaded to the FMDQ website.
Stanbic IBTC Bank intends to resume regular issuance under its CP Programme, as part of the bank’s overall assets and liabilities management strategy. Notes issued under the programme shall also be updated to the quotations page of the FMDQ website after which they will be admitted to, and eligible for trading on, the platform. In contrast, Stanbic IBTC Holdings is not immediately contemplating a transaction.