Coronation Merchant Bank has listed ₦1.29 billion Series 11 and ₦2.34 billion Series 12 CP under its ₦100.00 billion CP Issuance Programme on FMDQ Securities Exchange Limited.
FMDQ announce the admission of the Commercial Papers in a statement on Friday, saying it had successfully admitted of six Commercial Papers (CPs) valued at ₦22.29 billion in 2021.
It said corporate institutions were exploring alternative financing options by tapping the debt capital market to sustain their business activities and plug capital shortfalls.
It added that the continuous admission of securities to FMDQ Exchange’s platform was an indication of the potential of Nigeria’s debt capital market and the level of confidence demonstrated by both issuers and investors in the market.
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The statement read, “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.”
It added that Coronation Merchant Bank aimed to place its clients ahead of the curve in their sphere of operations and deliver sustainable value to its shareholders while positively impacting on the Nigerian economy.
According to FMDQ, the quotation will serve to enhance its liquidity buffers as it seeks to achieve its corporate objectives.
