Coronation Merchant Bank Funding SPV Plc on Wednesday, June 30 listed its N25billion Bond on Nigerian Exchange (NGX) Limited.

The 5-year 6.25percent Series one (1) Fixed Rate Subordinated Unsecured Bonds due 2025 is under Coronation Mb Funding SPV Plc’s One Hundred Billion Naira (N100billion) bond issuance programme.

With this issuance, NGX has supported Federal Government and corporates to raise over N4.7trillion from the capital market via the fixed income segment in the first half of 2021. Issuers continue to express excitement and satisfaction over the ability to access capital from the market and list the securities on NGX to provide liquidity for investors, despite the prevailing weak macroeconomic conditions.

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Read also: Cadbury, Ikeja Hotel, others lift NGX ASI by 0.15%

NGX on its part has expressed and proven its commitment to providing issuers with a platform that allows them to raise capital to meet strategic business objectives even in the most difficult times. “It is the Exchange’s delight to see issuers take full advantage of our products and services to support their growth story,” the Divisional Head, Listings Business, NGX, Mr Olumide Bolumole had previously stated.

Some of the issuers that have listed on NGX in the first half of 2021 include; NOVAMBL Investments SPV Plc, Federal Government of Nigeria, Mecure Industries Funding SPV Plc, CardinalStone Financing SPV Plc, Fidelity Bank Plc, FBNQuest Merchant Bank SPV Funding Plc, BUA Cement Plc, Etranzact International Plc, Kogi State Government, TSL SPV Plc, Lagos State Government and Flour Mills of Nigeria Plc.

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By Iheanyi Nwachukwu • July 1, 2021

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.

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