Merchant bank’s N3.63bn increases value of CPs admitted into FMDQ

FOLLOWING the admission of six Commercial Papers (CPs) valued at N22.29 billion thus far in 2021, FMDQ Securities Exchange Limited admission of the Coronation Merchant Bank’s N1.29 billion Series 11 and N2.34 billion Series 12 CP under the lender’s N100.00 billion CP Issuance Programme boosted the value on its platform.

Corporate institutions have continued to explore alternative financing options by tapping the debt capital market (“DCM”) to sustain their business activities and plug capital shortfalls.

Money market experts say the continuous admission of securities to FMDQ Exchange’s platform is reflective of the potential of the Nigerian DCM and the commendable level of confidence demonstrated by both issuers and investors in the market.

It also validates the efficient processes and integrated systems operated by FMDQ Holdings PLC (FMDQ Group) through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited – and how these have sustained its uninterrupted service delivery to the market diverse stakeholders during this difficult time.

A statement from the exchange explained that in line with the value proposition of FMDQ Exchange, the CP shall be availed the benefits of the value-driven quotations service on the Exchange, including global visibility through its website and systems, liquidity credible price formation and continuous information disclosure through FMDQ’s Quoted Commercial Paper Status Report (QCPSR), to protect investor interest, amongst others.

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