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By Chinwendu Obienyi and Chukwuma Umeorah
The FMDQ Securities Exchange Limited yesterday, stated that the total market value of commercial paper (CPs) on its platform closed at N3.25 trillion on November 30, 2022.
The Exchange disclosed this in a statement even as it announced the admission of the quotation of the Rand Merchant Bank Nigeria Limited’s N0.55 billion Series 3 and N1.81 billion Series 4 CPs under its N80.00 billion CP Programme on its platform.
This, it said, was to guarantee sustained business operations in the current challenging economic environment, stating that corporate institutions have continued to explore alternative financing options by tapping the debt capital market to plug capital shortfalls.
Rand Merchant Bank Nigeria Limited is a corporate and investment banking firm, which provides innovative advisory services on infrastructure projects, mergers and acquisitions, as well as the funding of various transactions across multiple sectors.
According to FMDQ, the proceeds from the quotation of the quoted CPs, which were co-sponsored by Standard Chartered Capital & Advisory Nigeria Limited – Lead Sponsor; FCMB Capital Markets Limited, FSDH Capital Limited, Rand Merchant Bank, and Stanbic IBTC Capital Limited (Co-Sponsors) – all Registration Member (Quotations) of the exchange, will be utilised by the issuer to support its short-term working capital and funding requirements.
“As part of its efforts towards unlocking the potential of the Nigerian economy, FMDQ Exchange shall continue to support institutional growth and stimulate continuous development of the economy at large, through the provision of a world-class securities admission service, in line with its mandate.
The exchange will continue to demonstrate commitment towards delivering a globally competitive, operationally excellent, liquid and diverse (“GOLD”) standard to the Nigerian debt capital market, availing issuers and investors the much-needed global visibility, confidence and protection in the markets”, It said.
FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.
