FMDQ Lists Coronation MB N25Bn Series 1 Bond

Yemisi Izuora

 

FMDQ Exchange has approved the listing of the Coronation MB Funding SPV Plc ₦25.00 billion Series 1 Fixed Rate Bond under its ₦100.00 billion Bond Issuance Programme on the Exchange.

 

Coronation MB Funding SPV PLC is a special purpose vehicle set up to raise capital from the Nigerian DCM for Coronation Merchant Bank Limited.

The bond which is sponsored by FBNQuest Merchant Bank Limited – a Registration Member of FMDQ Exchange, will enhance the liquidity buffers of Coronation MB, a key player in the Nigerian corporate banking, asset/fund management and securities trading sector.

 

Also, the Exchange welcomed the quotation of the Coronation Merchant Bank Limited ₦1.29 billion Series 19 and ₦23.71 billion Series 20 Commercial Papers (CPs) under its ₦100.00 billion CP Issuance Programme in August 2021.

The Coronation Merchant Bank Limited CPs were jointly sponsored by Coronation Merchant Bank Limited and Chapel Hill Denham Advisory Limited – Registration Member (Quotations) of FMDQ Exchange. The proceeds of the CPs quotation will be used to support the company’s short term funding requirements.

 

As part of its commitment to continually deliver exceptional value to the Nigerian financial markets and its stakeholders, FMDQ Exchange shall continue to validate its operational mandate of aligning the markets within its purview to international standards, striving to ensure they emerge as globally competitive, operationally excellent, liquid and diverse.

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