Coronation MB lists additional commercial paper on FMDQ Exchange

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FMDQ Securities Exchange Limited says it has approved the quotation of the Coronation Merchant Bank Limited N11.36 billion Series 18 Commercial Papers under its N100.00 billion CP Issuance Programme on its platform.

The Exchange said in a statement that the bank joined in 2018 the league of companies whose debt profiles had been raised via its quotations service.

“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,” it said.

According to the statement, Coronation MB CP, which was co-sponsored on the Exchange by Coronation Merchant Bank Limited and Chapel Hill Denham Advisory Limited, would be availed all the benefits of the Exchange’s quotations service, including global visibility, governance, credible price formation and continuous information disclosure to protect investor interest.

It said the proceeds from the quotation of this CP would be used to finance the issuer’s working capital requirements.

The Exchange said it remained committed to taking crucial steps, in close collaboration with market stakeholders, to deliver on its agenda of making the Nigerian financial markets globally competitive, operationally excellent, liquid and diverse.

SOURCE: PUNCH

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