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”) is pleased to announce the approval and admission of the United Capital PLC ₦1.35bn Series 1 and ₦3.97bn Series 2 CP under its ₦20.00bn CP Issuance Programme and the Sterling Bank PLC ₦6.85bn Series 1 Tranche A and ₦8.15bn Series 2 Tranche A CP under its ₦100.00bn 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.