FMDQ Marks 4th Anniversary, Lists Dufil Prima Foods N10bn Bond

Dufil Prima Foods Plc has listed its N10 billion Fixed Rate Bond on the FMDQ OTC Securities Exchange just as the exchange clocked four years. Vice President & Divisional Head, Business Development of FMDQ, Ms. Tumi Sekoni, congratulated the issuer and sponsor of the issue on the success achieved in the debt capital market (DCM) and expressed gratitude for the decision to list the bond on FMDQ

She recognised Dufil Prima Foods Plc as a household name considering the quotation of its Commercial Papers also on the OTC exchange. She reiterated FMDQ’s commitment to also playing its part, like the issuer of the Dufil Prima Bond and other parties to the issue, in contributing towards the growth of the Nigerian corporate bond market.

Chief Operating Officer, Dufil Prima Foods Plc, Mr. Madhukar Khetan said: “We at Dufil Prima Foods Plc are very proud to have our inaugural issuance under the Bond Programme listed on FMDQ OTC Securities Exchange. This key milestone continues to outline Dufil’s commitment to entrenching the domestic capital market as an integral part of our corporate funding strategy, beyond the establishment and issuance of notes under our Commercial Paper Programme. This initiative speaks to the very core of our beliefs in being relevant in our local markets and that can be closely correlated and identified with our products and services which are very well recognised on a national level.”

Managing Director/CEO of FMDQ, Mr. Bola Onadele.Koko, said: “OTC exchange shall continue to innovate and provide efficient services and infrastructure, as may be necessary, to support issuers and investors, towards achieving an operationally excellent and competitive DCM. Through consistent collaboration with its stakeholders, FMDQ shall continue to further deepen and effectively position the Nigerian DCM for growth, and invariably contribute to the growth of the economy at large.”

According to him, for four years, FMDQ OTC Securities Exchange has progressively championed and effectively supported initiatives aimed at boosting the growth and development of the Nigerian financial markets, with particular focus on the DCM.

“Through the provision of unprecedented transparency, spearheading of initiatives to boost secondary market liquidity and facilitating effective price formation, among other activities via its platform, FMDQ has supported the enhancement of market credibility which has, in turn, boosted investor confidence in the Nigerian DCM. Consequently, credible issuers in the private sector have been able to successfully tap the DCM to access stable long-term finance to fund key activities that ultimately translate to national economic development, some of which include, but are not limited to, funding pressing infrastructure development needs and supporting capital investments,” he said.