FMDQ Securities Exchange Limited has approved the quotation of the Coronation Merchant Bank Limited ₦0.71 billion Series 13 and ₦14.13 billion Series 14 Commercial Papers (CPs) in March 2021 on its platform.
Others are ₦1.41 billion Series 15 and ₦20.19 billion Series 16 CPs in May 2021.
The exchange in a statement on Tuesday said both commercial papers are both under its ₦100.00 billion CP Programme and that the net proceeds would be used to support the Issuer’s short term funding requirements.
The bank, according to the statement, aims 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.
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Commenting on the completion of the commercial papers quotation, the MD/CEO, Coronation Merchant Bank Limited, Banjo Adegbohungbe, stated, “We are delighted at the successful issuance and subsequent quotation of the Bank’s ₦0.71 billion Series 13 and ₦14.13 billion Series 14 Commercial Papers.
“This transaction further underscores the confidence of investors in our brand and entrenches our continuous leadership in the use of market instruments to create shared prosperity for all stakeholders.”
The Exchange said the Coronation Merchant Bank CPs, which were sponsored on the Exchange by Chapel Hill Denham Advisory Limited, would be availed global visibility through the Exchange’s website and systems, governance and continuous information disclosure to protect investors’ interest.
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