FMDQ admits FMN bonds, infrastructure debt fund, others

FMDQ Securities Exchange Limited has admitted to its platform, the Flour Mills of Nigeria PLc’s Series 3 N12.49 billion Tranche A and N7.50 billion Tranche B Fixed Rate Senior Unsecured Bonds under the N70.00 billion Bond Issuance Programme.
The exchange also admitted for listing on its platform, the Chapel Hill Denham Nigeria Infrastructure Debt Fund Series 6 162.72 million Units of N100.00 each at N109.72 under the N200.00 billion Issuance Programme.
The exchange had in December 2018 admitted the Flour Mills of Nigeria Series 1 & 2 N20.11 billion bonds. Proceeds from these bonds will be used to refinance the food giant’s short-term debt obligation as well as support its working capital.
According to FMDQ in a statement, Chapel Hill NIDF, which is the pioneer infrastructure debt fund in Nigeria and sub-Saharan Africa, has its investment focus on the traditional infrastructure sectors, primarily transport, power, renewable energy, utilities, energy infrastructure, logistics and other public-private-partnership type investments.
It noted that the fund aimed to enable investors access infrastructure as an asset class, while providing returns available from long-dated infrastructure debt investments.
In the same vein, Coronation Merchant Bank Limited’s N0.32 billion Series 7 and N6.64 billion Series 8 Commercial Papers (CP) under the N100.00 billion CP Issuance Programme was also admitted for quotation on the platform of FMDQ Exchange.
“These listings and quotation by these corporates continue to validate FMDQ Exchange as the choice platform for the registration, listing, quotation, trading and recording of financial securities in the Nigerian financial market.
“In turn, FMDQ Exchange strives to remain innovative even as it continues to provide timely and cost-efficient services, as may be necessary, to support its stakeholders, particularly issuers and investors, towards accessing capital, managing risks and invariably, improving their corporate profile.
“As has become tradition for FMDQ Exchange, these securities shall be availed benefits of FMDQ Exchange’s prestigious listings and quotations service including global visibility through the FMDQ Exchange website and systems, governance, credible price formation and continuous information disclosure to protect investor interest, amongst others.
“FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group which provides a one-stop platform for the seamless and cost-efficient execution, risk management, clearing, settlement and depository services for the Nigerian financial market.
“With a vision to be “the leading African builder of ecosystems of financial infrastructure and services for markets”; and a mission to “collaborate to empower markets for economic progress towards delivering prosperity”, FMDQ Group is committed to continuous innovation and stakeholder engagement, towards making the Nigerian financial markets globally competitive, operationally excellent, liquid and diverse,” It stated.

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