Coronation Merchant Bank Limited Raise Finance from the Nigerian Debt Capital Market, Issues New Series on FMDQ Exchange

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In acknowledging the value-add derived by corporate entities from its credible and efficient platform, FMDQ Securities Exchange Limited (“FMDQ Exchange” or “the Exchange”) has diligently continued to support the deepening of the Nigerian Debt Capital Market (DCM) through the offerings of its unique listing and quotation services. Commendably, the Board Listings and Markets Committee of FMDQ Exchange approved the listing of the Coronation MB Funding SPV PLC ₦25.00 billion Series 1 Fixed Rate Bond (“Coronation MB 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 (“Coronation MB” or “the Company”). The bond which is sponsored by FBNQuest Merchant Bank Limited – a Registration Member (Listings) 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.

In the same vein, the Exchange also 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.

FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, risk management for financial market transactions; and depository of securities; as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited.

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