NB PLC, UPDC PLC quote ₦10bn Worth of Commercial Papers on the FMDQ platform

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As market participants continue to align their activities in the wake of the policy reforms shaping the Nigerian financial market landscape, FMDQ OTC Securities Exchange (FMDQ) is pleased to welcome the quotations of the UACN Property Development Company PLC ₦7,284,198,000.00 Series 4-11 Commercial Paper (CP) Notes under its ₦24.00bn CP Programme; and the Nigerian Breweries (NB)PLC ₦2,223,708,000.00 Series 10 CP Notes under its ₦100.00bn CP Programme, to its platform.

In support of the growth of the Nigerian economy, FMDQ championed the resuscitation of the CP market to provide corporate and commercial businesses the opportunity to meet their short-term funding requirements, whilst building their profiles in the Nigerian debt capital market space. The time to market of these securities lays credence to the efficiency of the FMDQ quotation process and brings the count of CPs admitted onto the FMDQ platform for quarter 1 2017 to a total of fifteen (15).

As with securities quoted on FMDQ, these CPs will be availed global visibility and governance by the promotion of credibility and transparency of information, as part of the value-add provided by the FMDQ Listings and Quotations Service.

FMDQ remains positive about the possibilities of the Nigerian debt capital market, and will continue to articulate, with the support of its key stakeholders, ways to improve and make the Nigerian markets globally competitive, operationally excellent, liquid and diverse, in line with its mission to empower the financial markets to be innovative and credible, in support of the Nigerian economy.

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