•As FMDQ admits N23bn debt securities

By Nkiruka Nnorom

The current business climate, marred by the impact of the Coronavirus (COVID-19) pandemic has seen most corporates and business entities look to the debt segment of the capital market as a viable avenue to raise capital.

This is coming as the FMDQ Exchange Limited admitted debt securities valued at over N25 billion to its platform.

The issues admitted include the FBN Merchant Bank Funding SPV Plc Series-1 ¦ 5.00 billion Fixed Rate Senior Unsecured Bond, Coronation Merchant Bank Limited ¦ 6.00 billion Series-9 and ¦ 9.00 billion Series-10 Commercial Paper (CP) notes under its ¦ 100.00 billion CP issuance programme as well as the Mixta Real Estate Plc ¦ 3.30 billion Series 20 – 23 CP notes under its ¦ 20.00 billion CP issuance programme on its platform.

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The Exchange also admitted the registration of the Guinness Nigeria Plc ¦ 10.00 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.

The Exchange, in a statement, said the admission of the debt securities on its platform are 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.

The statement added, “They also validate the efficient processes and integrated systems through which FMDQ Holdings Plc through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited – has sustained its uninterrupted service delivery to the market and its diverse stakeholders during this difficult time and beyond.

“As is the corporate tradition for FMDQ Exchange, these securities shall be availed the benefits of the value-driven listings and quotations service on the Exchange, including global visibility through its website and systems, liquidity credible price formation and continuous information disclosure to protect investor interest, amongst others.

“In keeping with its commitment to the development of the market, FMDQ Exchange shall sustain its efforts in supporting issuers with tailored financing options to enable them achieve their strategic objectives, deepen and effectively position the Nigerian debt capital market for growth, in support of the realisation of a globally competitive and vibrant  economy.”