FMDQ Exchange admits Coronation Merchant Bank’s new Commercial Paper Series on its Platform

FMDQ Exchange has approved the registration of the Neveah Limited N10 billion Commercial Paper (CP) Programme

FMDQ Securities Exchange Limited (FMDQ Exchange) has admitted on its platform Coronation Merchant Bank’s N1.29 billion Series 11 and N2.34 billion Series 12 Commercial Papers (CPs) under its N100 billion CP Issuance Programme. This follows the admission of six (6) Commercial Papers (CPs) valued at N22.29 billion thus far in 2021.

Corporate institutions have continued to explore alternative financing options by tapping the debt capital market (DCM) to sustain their business activities and plug capital shortfalls.

The continuous admission of securities to FMDQ Exchange’s platform is reflective of the potential of the Nigerian DCM and the commendable level of confidence demonstrated by both issuers and investors in the market.

It also validates the efficient processes and integrated systems operated by FMDQ Holdings Plc (FMDQ Group or FMDQ), through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited – and how these have sustained its uninterrupted service delivery to the market and its diverse stakeholders during this difficult time and as we forge ahead in 2021 and beyond.

In line with the value proposition of FMDQ Exchange, the CP shall be availed the benefits of the value-driven quotations service on the Exchange, including global visibility through its website and systems, liquidity credible price formation and continuous information disclosure through FMDQ’s Quoted Commercial Paper Status Report (QCPSR), to protect investor interest, amongst others.

Coronation Merchant Bank Limited (Coronation MB or the Bank) provides merchant banking services, which include assets/fund management services, securities trading, treasury services, investment banking and corporate banking services to corporate institutions, institutional investors and high net worth individuals. The Bank aims to place its clients ahead of the curve in their sphere of operations and by so doing, deliver sustainable value to its shareholders whilst positively impacting on the Nigerian economy. This quotation will serve to enhance its liquidity buffers as it seeks to achieve its corporate objectives.

FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group providing 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.

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By Iheanyi Nwachukwu • February 19, 2021

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.