FMDQ Exchange admits N100b Coronation Merchant Bank’s Commercial Paper

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FMDQ Exchange admits N100b Coronation Merchant Bank’s Commercial Paper

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

Following the admission of six (6) Commercial Papers (CPs) valued at N22.29 billion thus far in 2021, FMDQ Securities Exchange Limited has announced the admission of the Coronation Merchant Bank N1.29 billion Series 11 and N2.34 billion Series 12 CP under its N100.00 billion CP Issuance Programme on its platform.

FMDQ said 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.

The company said 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 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 further stated.

“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”, stated the group.

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