FSDH Funding SPV lists Series 1 bonds on FMDQ

By Chinwendu Obienyi

FMDQ Securities Exchange Limited has announced the approval, by the Board Listings and Markets Committee, of the listing of the FSDH Funding SPV Plc N7.05 billion Tranche A and N4.95 billion Tranche B Series 1 Fixed Rate Bonds under its N30.00 billion Debt Issuance Programme on its platform.

FSDH Funding SPV Plc is a special purpose vehicle set up to raise capital from the Nigerian debt capital market for FSDH Merchant Bank Limited. Speaking on the successful issuance of the Bonds, the Director, FSDH Funding SPV Plc, Adekunle Awojobi, stated that the company is pleased about the successful N12 billion capital-raise under the FSDH Funding SPV Plc N30.00 billion Debt Issuance Programme.

According to him, the bond issue is the first series under the programme and comprises two tranches (Tranche A & B) of subordinated and senior bond notes, each with a 5-year tenure.

He said, “the listing of the bonds on FMDQ’s platform will help provide visibility and enhance the liquidity of the bonds. The net proceeds of the bond issue will be used to fund the growth of risk assets of the Sponsor, FSDH Merchant Bank Limited. A portion of the bond issuance will serve the dual purpose of shoring up the Bank’s Tier 2 capital, in line with its Internal Capital Adequacy Assessment Process”.

We would like to thank and commend Union Capital Markets Limited for facilitating the listing of the bonds on FMDQ Exchange and the issuing houses, Stanbic IBTC Capital Limited, FSDH Capital Limited, Rand Merchant Bank Nigeria Limited, and United Capital Plc for their support in ensuring the successful capital raising”.

 Also, the Director, Union Capital Markets Limited, sponsor of the bond and a registration member listings of FMDQ Exchange), Egie Akpata, said, “we are delighted at the successful listing of the N12.00 billion FSDH Funding SPV Plc Series 1 (Tranche A & Tranche B) bonds on FMDQ Exchange. The listing of the bonds on the Exchange allows for liquidity and trading of the bonds which is positive for the investors.

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