FMDQ Exchange admits United Capital, Sterling Bank commercial paper notes to its platform 

Coming shortly on the heels of the issuances and subsequent successful admission of the Flour Mills of Nigeria Plc Bond, the Nigeria Infrastructure Debt Fund and the Coronation Merchant Bank Limited Commercial  Paper (CP)  notes,  FMDQ  Exchange Limited  (FMDQ  Exchange  or  the  Exchange)  had approved and admitted the United Capital Plc N1.35billion Series 1 and N3.97billion Series 2 CP under its N20billion CP Issuance Programme.

Also, the Exchange has admitted the Sterling Bank Plc N6.85billiin Series 1 Tranche A and N8.15billion Series 2 Tranche A CP under its N100billion CP Issuance Programme onto the Exchange’s platform.
Despite the economic headwinds experienced by businesses around the world owing to the COVID-19 pandemic, FMDQ Holdings Plc (FMDQ Group or FMDQ) has through its subsidiary, FMDQ Exchange continued  to  avail  necessary  support  to  governments,  corporates  and  individuals  through  the provision of capital market solutions.

The Nigerian capital market and indeed, the commercial paper market has in recent times provided the much-needed succor for corporate entities looking to raise funds  to  meet  shortfalls  in  their  working  capital  needs  as  well  as  capital  expenditures.

These commercial papers like all other securities listed, quoted and traded on the FMDQ Exchange platform shall be availed global visibility through the FMDQ Exchange’s website and systems, transparency through its  inclusion  in  the  FMDQ  daily  Quotations  List,  governance  and continuous information disclosure to protect investor interest, credible price formation amongst other benefits derived from the preferred admission to the FMDQ Exchange platform.

As  the  realities  of  the  aftermath  of  the  COVID-19  pandemic  hit  businesses,  communities  and individuals, FMDQ Group remains committed to the well-being of the markets and shall continue to deploy strategies to promote market development amidst the volatilities, in collaboration with market participants, towards boosting the resilience of the Nigerian financial market.

FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group which provides  a  one-stop  platform  for  the  seamless  and  cost-efficient  execution,  risk  management, clearing, settlement and depository services, as well as data and information services across the debt capital, foreign exchange and derivatives markets in Nigeria, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited, FMDQ Private Markets Limited & iQx Consult Limited.

 

Iheanyi Nwachukwu