FBNQuest Merchant Bank successfully quotes its N7.34bn CP on FMDQ Exchange

MERCHANT Bank has successfully listed its N7.34 billion Series 19 Commercial Paper on the FMDQ Securities Exchange platform. The merchant bank explained that the quotation was under its N100 billion Commercial Paper Programme.

According to a statement by FMDQ, the transaction followed the due diligence process and was approved by the Board Listings and Markets Committee of the Exchange and further stating that the net proceeds from the CP will be used to supIT port the issuer’s short term funding requirements.

The FMDQ Exchange, in a statement on the CP quotation, said it has continued to avail its credible and efficient platform as well as tailor its Listing and Quotation services to suit the needs of issuers and its Registration Members.

“The timely admission of this CP issue, and in general, all securities on FMDQ Exchange, is 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. “In line with the value proposition of FMDQ Exchange, the CP shall be availed global visibility (through the Exchange’s website and systems), governance, continuous information disclosure to protect investors’ interest and credible price formation, amongst other benefits derived from the FMDQ Exchange platform”, FMDQ added.