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    FMDQ Exchange Admits Coronation Merchant Bank’s New Commercial Paper Series on its Platform

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    Naija247news Media, New Yorkhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Corporate institutions have continued to explore alternative financing options by tapping the debt capital market (DCM) to sustain their business activities and plug capital shortfalls.

    Following the admission of six (6) Commercial Papers (CPs) valued at ₦22.29 billion thus far in 2021, FMDQ Securities Exchange Limited (FMDQ Exchange) is pleased to announce the admission of the Coronation Merchant Bank ₦1.29 billion Series 11 and ₦2.34 billion Series 12 CP under its ₦100.00 billion CP Issuance Programme on its platform.

    The continuous admission of securities to FMDQ Exchange’s platform is reflective of the potential of the Nigerian DCM and the commendable level of confidence demonstrated by both issuers and investors in the market

    It also validates the efficient processes and integrated systems operated by FMDQ Holdings PLC (FMDQ Group or FMDQ), through its wholly-owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited – and how these have sustained its uninterrupted service delivery to the market and its diverse stakeholders during this difficult time and as we forge ahead in 2021 and beyond.

    In line with the value proposition of FMDQ Exchange, the CP shall be availed the benefits of the value-driven quotations service on the Exchange, including global visibility through its website and systems, liquidity credible price formation and continuous information disclosure through FMDQ’s Quoted Commercial Paper Status Report (QCPSR), to protect investor interest, amongst others.

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    Coronation Merchant Bank Limited (Coronation MB) provides merchant banking services, which include assets/fund management services, securities trading, treasury services, investment banking and corporate banking services to corporate institutions, institutional investors and high net worth individuals.

    The Bank aims to place its clients ahead of the curve in their sphere of operations and by so doing, deliver sustainable value to its shareholders whilst positively impacting the Nigerian economy. This quotation will serve to enhance its liquidity buffers as it seeks to achieve its corporate objectives.

    FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group providing a one-stop platform for the seamless and cost-efficient execution, risk management, clearing, settlement and depository services, as well as data and information services across the debt capital, foreign exchange and derivatives markets in Nigeria.

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