Rand Merchant Bank to raise N40bn from capital market

Rand Merchant Bank Nigeria (RMB Nigeria) through its funding vehicle, RMB Nigeria Issuance SPV, has registered a N40 billion Multi-Instrument Issuance Programme.

Stanbic IBTC Capital will act as the lead issuing house, with RMB Nigeria serving as the joint issuing house of the programme.

According to Bayo Ajayi, the chief executive officer of RMB Nigeria, the programme allows the firm to access liquidity from the Nigerian debt capital markets.

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He commented, “This Programme provides us the opportunity to access liquidity from the Nigerian debt capital markets to support our strategic and financing objectives.”

In a statement reflecting the company’s vision for Nigeria’s economic growth, Ajayi emphasised RMB Nigeria’s commitment to fostering strong client partnerships and providing increased support for long-term financial needs.

“With our enhanced capacity to raise long-term funding, we are now in a stronger position to support our clients with their long-term loan needs,” the statement read.

The establishment of the programme will support the asset growth and liability management objectives of RMB Nigeria by enabling the issuance of debt instruments and structured notes.

Also speaking on the programme registration, Oyinda Akinyemi, executive director, Stanbic IBTC Capital, commended RMB Nigeria for aligning with global best practices in treasury management and financial innovation.

She noted, “Stanbic IBTC Capital has been at the forefront of advising our clients on staying ahead of changing market trends, and we are pleased on this occasion to have been of assistance in shaping RMB’s funding strategy.”

A multi-instrument issuance programme is a capital-raising strategy that allows an organisation to offer a range of financial instruments—including bonds, commercial papers, promissory notes, and other debt or equity facilities—under a single issuance framework.

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The launch of the programme will bolster RMB Nigeria’s asset growth and liability management goals by facilitating the issuance of debt instruments and structured notes.