The FMDQ Securities Exchange Ltd has approved the listing of Coronation Merchant Bank Ltd 11.36 billion Naira Series 18 Commercial Papers on its platform.
The FMDQ revealed this in a statement made available to the Nigerian News Agency (NAN) on Friday in Lagos.
The statement said the offer was approved by the Quotes and Markets Committee of the FMDQ board as part of the bank’s 100 billion naira CP issuance program.
She added that the proceeds from the CP would be used to fund the issuer’s working capital needs.
According to the release, CP was co-sponsored on the Bourse by Coronation Merchant Bank Ltd and Chapel Hill Denham Advisory Ltd.
He added that the issuer, in 2018, joined the league of other companies whose debt profiles had been identified via the value-added listing service offered by the FMDQ Stock Exchange.
“The continued admission of securities to the FMDQ Exchange platform reflects the potential of the Nigerian debt capital market and the commendable level of confidence shown by issuers and investors in the market,” he said. .
Coronation Merchant Bank is Africa’s premier investment bank providing innovative solutions to the needs of businesses, governments and other financial services organizations. (NAN)
