FMDQ Securities Exchange Limited has announced the approval and admission of the MTN Nigeria Communications Plc N127 billion Commercial Papers (CPs) on its platform.
The CPs comprise of N51.38 billion Series 1 and N75.62 billion Series 2 CPs under its N150 billion CP Issuance.
The Exchange, in a release to LEADERSHIP, said the Nigerian debt capital market (DCM) continues to play an important role in the efficient mobilisation and allocation of resources in the economy to effectively support corporates looking to expand their business operations.
According to FMDQ, the proceeds from these issuances, which are co-sponsored by Stanbic IBTC Capital Limited – Lead Sponsor; Chapel Hill Denham Advisory Limited, Coronation Merchant Bank Limited, FBNQuest Merchant Bank Limited, FSDH Capital Limited, Standard Chartered Capital & Advisory Nigeria Limited and UCML Capital Limited (Co-Sponsors); all Registration Member (Quotations) of the Exchange, will be utilised by MTN Nigeria to support its short-term working capital and funding requirements.
It added that, “the quotation lays credence to the innovation, efficiency, and operational excellence for which the Exchange is reputed for as endorsed by issuers, investors, and other market stakeholders.
“As an exchange with a commitment to facilitate growth and development in the Nigerian DCM and the economy at large, FMDQ Exchange will continue to show its commitment to promoting an efficient, transparent, and well-regulated market, which will attract and retain both domestic and foreign investors.”
FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services.