FMDQ approves Coronation’s N11.36bn CP

Coronation Merchant Bank Limited has quoted N11.36bn Series 18 Commercial Papers on the FMDQ platform.

The FMDQ Securities Exchange Limited disclosed this in a statement on Friday.

FMDQ’s Board Listings and Markets Committee approved the offer under the bank’s N100bn CP issuance programme, Financial Street gathered.

According to FMDQ, the proceeds from the CP will be used to finance the issuer’s working capital requirements.

It added that the CP was co-sponsored on the Exchange by Coronation Merchant Bank Limited and Chapel Hill Denham Advisory Limited.

The issuer had, in 2018, joined the league of companies whose debt profiles were raised via the value-packed quotations service offered by the FMDQ Exchange, it noted.

“The continuous admission of securities to FMDQ Exchange’s platform is reflective of the potential of the Nigerian debt capital market and the commendable level of confidence demonstrated by both issuers and investors in the market,” FMDQ added.

Coronation Merchant Bank provides innovative solutions to the needs of corporations, governments and other financial services organisations.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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