Guinness Plc to List NGN10 billion Series 2 and 3 Commercial Paper Issues on FMDQ OTC Market Platform
Guinness Nigeria Plc (“GN”) plans to list its NGN7.23bn series 2 and NGN2.77bn series 3 Commercial Paper issues on the FMDQ OTC securities exchange on the 18th of February 2016.
The planned listing follows the successful issuance of the 182 day Series 2 and 268 day series 3 issues on 4th of November, 2015.
Guinness Nigeria took this milestone initiative as the first non-financial institution to establish a CP Program following the guidelines on Commercial Paper published by the Central Bank of Nigeria in 2009.
Our decision to list the notes on the FMDQ is to increase the visibility which will in turn lead to increased demand for future issues.
The FMDQ OTC PLC is the licensed operator of the FMDQ Over-The-Counter Market in Nigeria and it promotes market development in the Nigerian OTC financial markets, with a primary focus on the OTC markets – fixed income (money, repos, commercial papers, treasury bills, and bonds), currencies and derivatives.
Source: NSE, GTI Research