FMDQ Securities Exchange Limited has approved the quotation of the Mixta Real Estate Plc N2.39bn Series 28 commercial paper under its N20bn Commercial Paper issuance programme and the CardinalStone Partners Limited N5bn Series 1 CP under its N10bn commercial paper issuance programme on its platform.
A statement made available to Financial Street revealed that the CPs of Mixta Real Estate and CardinalStone Partners would be used to finance the issuers’ short-term funding requirements.
These CPs, like all other securities listed/quoted and traded on the platform, shall be availed global visibility through the FMDQ Exchange website and trading systems; transparency through its inclusion in the FMDQ daily quotations list; governance and continuous information disclosure to protect investor interest; credible price formation among other benefits derived from being quoted on FMDQ Exchange.
Commenting on this debut CP issuance, CardinalStone Partners representing the issuer stated, “The admission of the Issuance by CardinalStone on the Exchange will allow the company consolidate its position as a credible borrower from institutional investors and one of the few non-bank affiliated financial services businesses that have accessed the debt capital markets.
“More importantly, the issuance will form part of the company’s strategy to diversify its financing mix and to fund its working capital requirements.”
As a world-class vertically integrated financial market infrastructure group, committed to advancing the growth of the Nigerian financial market, FMDQ Holdings (“FMDQ” or “FMDQ Group”) will continue to take crucial steps, in collaboration with market stakeholders, towards promoting transparency, governance, integrity and efficiency in the Nigerian capital market, the statement added.
In accordance with its strategic role as a market organiser and its evolution into a systemically important financial market infrastructure group within the Nigerian financial market ecosystem, FMDQ, as driven by innovation, collaborative relationships and future-forward technology, is positioned to bring about revolutionary changes in the Nigerian capital market.
This is through its exchange, clearing, depository and private markets subsidiaries; providing a seamless process and value-chain for the market participants to commence and end their financial market transactions.
