FMDQ Exchange Limited has announced the approval and admission of the United Capital PLC ₦1.35bn Series 1 and ₦3.97bn Series 2 Commercial Papers (CP).
The CP transaction is under FMDQ Exchange ₦20.00bn CP Issuance Programme and the Sterling Bank PLC ₦6.85bn Series 1 Tranche A and ₦8.15bn Series 2 Tranche ACP under its ₦100.00bn CP Issuance Programme onto the Exchange’s platform.
The transactions come 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,
Despite the economic headwinds experienced by businesses around the world owing to the COVID-19 pandemic, FMDQ Group 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.
This is 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.