FIRST City Monument Bank (FCMB) Group Plc has successfully completed the issuance of a N26 billion Perpetual 16 percent Fixed Rate Resettable bond
The additional Tier I Subordinated Bonds under the N300 billion debt Issuance Programme was received by the market with active participation from a diverse range of high-value investors, including corporates, other financial institutions, trustees and high net-worth individuals.
The AT1 instrument according to market participants, was issued at a clearing coupon rate of 16.0 percent per annum.
The successful Series 2 Bond issuance highlights the group’s commitment to embracing innovation in the Nigerian banking sector and is in line with the Central Bank of Nigeria’s desire for stronger capitalised banks.
Yemisi Edun, Managing Director of First City Monument Bank Limited said, “FCMB is very proud to be a part of a group that embraces innovation and thanks the investor community for their support which will enable the bank to achieve its long-term strategy.
“In addition to strengthening the bank’s capital base which will comply with the forthcoming application of Basel III capital requirements, the AT-1 bond will enable the Bank to finance incremental term lending in priority sectors.”
The net proceeds from the Series 2 Bond, the lender said, will be injected to the group’s banking subsidiary, First City Monument Bank Limited (“the Bank”).
This enables the group and the bank to execute long-term strategic objectives.
Chapel Hill Denham Advisory Limited and FCMB Capital Markets Limited acted as the Issuing Houses to the Series 2 Bond.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
2023 Ballon d’Or: Osimhen finishes eight, becomes highest ranked Nigerian footballer
Super Eagles and Napoli forward, Victor Osimhen, has achieved the highest ranking for a Nigerian in the history of the Ballon d’Or football award. Osimhen achieved this milestone by ranking eighth in the 30-man list of the 2023 Ballon d’Or award...….
Tinubu intervenes in Fubara, Wike rift
President Bola Tinubu has moved to end the rift between Governor Simi Fubara of Rivers State and his predecessor in office, Nyesom Wike, which has dragged the state into a political crisis.The president used the opportunity of Tuesday’s meeting of the Police Council, which both attended as members, to ostensibly end the feud between the two political allies……..
Reps summon Betta Edu over N1.1trn Conditional Cash Transfer
The House of Representatives on Tuesday summoned the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, over the implementation of the N1.1 trillion Conditional Cash Transfer (CCT) for vulnerable Nigerians.The resolution which was passed sequel to the adoption of a motion under ‘Matters of urgent public importance’ sponsored by Hon. Moshood Adebayo (PDP-Osun), who harped on the need to scrutinize the policy on the CCT....….…
2024 Olympic Qualifiers: Super Falcons thrash Ethiopia, zoom to next round
Nigeria’s Super Falcons have booked a place in the third round of the qualifiers for the 2024 Olympic Games after a 4-0 win against Ethiopia at the Moshood Abiola Stadium, Abuja on Tuesday. The former African champions won the second-round contest 5-1 on aggregate…..…
Four kinds of people you should date
It’s a few months to the end of 2023, and you still wonder why you have not met a good person to do matching pyjamas with. Well, here are a few tips about the quality of people you should date as you move on from your past sour relationships......…
Ondo Assembly suspends impeachment of deputy gov Aiyedatiwa
The Ondo State House of Assembly has suspended the impeachment proceedings against Deputy Governor Lucky Aiyedatiwa following the refusal of the Chief Judge of the state, Olusegun Odusola, to set up a panel for the exercise...…
EDITORIAL: Sheikh Gumi’s incendiary outburst
RECENTLY, a Kaduna State-based Islamic cleric, Sheikh Ahmad Gumi, set the polity on edge, accusing the Bola Ahmed Tinubu administration of committing the unpardonable sin of making a Nigerian of southern origin and immediate past governor of Rivers State, Barrister Nyesom Wike, the the minister of the Federal Capital Territory (FCT)..……
An Appeal Court sitting in Benin, the Edo State capital, has dismissed the appeal filed…
Kayokem International Foundation during its second anniversary held in Abeokuta, Ogun State supported over 3000…
Ekiti State government has restated ban on any High Chief and individual adorning in beaded…
As digital assets regain momentum in 2025, the spotlight is shifting toward cryptocurrencies that combine…
By: Hezekiah. O. Bamiji IN April 2017, when the sudden demise of the first civilian…
AT the risk of parroting the ageless Juju maestro, King Sunny Ade, shall we, all…
This website uses cookies.