FCMB Lists N26b Bond On FMDQ Securities Exchange | Independent Newspapers Limited
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FCMB Lists N26b Bond On FMDQ Securities Exchange

Posted: Jul 28, 2015 at 12:39 am   /   by   /   comments (0)

By Bamidele Ogunwusi,  Lagos


FMDQ OTC Plc records yet another achievement as it welcomes the FCMB Financing SPV PLC N26,000,000,000 Series 1, 7-Year 14.25 per cent fixed rate unsecured bond under a N100,000,000,000.00 debt issuance programme to its platform.

This achievement immediately follows the listings of the N30.5 billion UBA Bond, N15.54 billion Stanbic IBTC Bond, N4.8 trillion FGN Bonds and quotation of N2.8 trillion Nigerian Treasury Bills respectively, on the OTC securities exchange. As has become the tradition with the debt-focused OTC securities exchange, a prestigious Listing Ceremony was held in honour of the FCMB Financing SPV bond.

To which end, FMDQ played host to the issuer, represented by the Group MD/CEO FCMB Ltd., Mr. Ladi Balogun and the issuing house/sponsor of the bond, represented by the Executive Director, FCMB Capital Markets Ltd., Mr. Tolu Osinibi.

Speaking at the ceremony, Ms. Tumi Sekoni, Group Head, Business Development at FMDQ noted that FMDQ, recognising the growth potential of issuers of debt in the Nigerian capital market, affords a remarkable opportunity for the issuers to raise the profile of their issues and access a deep pool of funds.

Sekoni further intimated that listing of debt securities on the OTC securities exchange provides a wide range of benefits across the debt market value chain, amongst which are global visibility, transparency, improved secondary market liquidity, price formation and benchmark pricing.

Ahead of unveiling the FMDQ Bond Listing Scroll, the presentation of the FMDQ Bond Listing Plaque, and autographing of the FMDQ Bond Listing Wall of Fame, Mr. Balogun, whilst addressing the financial market, highlighted that the significance of listing the FCMB SPV Bond on the FMDQ platform is hinged on the availability of a readily accessible liquid market to the bondholders, where the value of their investments can easily be determined and monitored on a daily basis; as well as a platform to realise their investment when necessary.