{"id":1020824,"date":"2023-05-08T17:36:05","date_gmt":"2023-05-08T17:36:05","guid":{"rendered":"https:\/\/fmdqgroup.com\/exchange\/fmdq-exchange-commemorates-the-quotation-of-greenwich-merchant-banks-commercial-papers-on-its-platform\/"},"modified":"2023-05-08T17:36:05","modified_gmt":"2023-05-08T17:36:05","slug":"fmdq-exchange-commemorates-the-quotation-of-greenwich-merchant-banks-commercial-papers-on-its-platform","status":"publish","type":"post","link":"https:\/\/fmdqgroup.com\/exchange\/fmdq-exchange-commemorates-the-quotation-of-greenwich-merchant-banks-commercial-papers-on-its-platform\/","title":{"rendered":"FMDQ Exchange Commemorates the Quotation of Greenwich Merchant Bank\u2019s Commercial Papers on its Platform"},"content":{"rendered":"
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FMDQ Securities Exchange Limited (\u201cFMDQ Exchange<\/strong>\u201d or the \u201cExchange<\/strong>\u201d) is pleased to announce the approval for the quotation of the Greenwich Merchant Bank Limited \u20a612.20 billion Series 1 and Series 2 Commercial Papers(\u201cCPs\u201d) under its \u20a6100.00 billion CP Issuance Programme<\/strong> on its Platform. Greenwich Merchant Bank Limited (\u201cGreenwich Merchant<\/strong> Bank<\/strong>\u201d or the \u201cIssuer<\/strong>\u201d) is a Nigerian financial institution that provides a wide array of banking and financial services to corporate organisations, high net worth individuals, and institutional clients.<\/p>\n

In commemorating this remarkable accomplishment, FMDQ Exchange held a Quotation Ceremony at its offices in April. Present to celebrate the successful quotation of the CPs were the Issuer, Greenwich Merchant Bank, represented by its Group Managing Director\/Chief Executive Officer, Mr. Bayo Rotimi and other representatives of Greenwich Merchant Bank. Also, the Sponsors of the CPs \u2013 Stanbic IBTC Capital Limited (Lead Sponsor), Afrinvest Capital Limited, ARM Securities Limited, Greenwich Merchant Bank Limited and Rand Merchant Bank Nigeria Limited (Co-Sponsors) \u2013 all Registration Member (Quotations) of FMDQ Exchange, as well as other parties to the issue, were present at the Ceremony.<\/p>\n

Welcoming guests to the Ceremony, Ms. Tumi Sekoni, Managing Director, FMDQ Exchange, represented by Ms. Jumoke Olaniyan, Senior Vice President, Business Development Division, FMDQ Exchange, congratulated the Issuer and other parties for the remarkable job well done towards ensuring the success of the issuances. Ms. Olaniyan further noted that with the growing interest of corporate entities in the CP market to finance short-term funding and liquidity requirements through the debt markets, FMDQ Exchange will continue to maintain a dependable and resilient platform for the quotation of CPs, thereby facilitating uninterrupted access to capital for businesses.<\/p>\n

The Group Managing Director\/Chief Executive Officer, Greenwich Merchant Bank, Mr. Bayo Rotimi whilst delivering the Special Address, stated that \u201cGreenwich Merchant Bank\u2019s maiden CP Issuance was 22.00% oversubscribed with orders of over \u20a612.20 billion, confirming the strength of our value proposition to the Nigerian economy. We remain committed to delivering innovative and cutting-edge financial solutions to discerning issuers and investors towards creating viable alternatives and deepening the Nigerian capital markets.\u201d<\/p>\n

Delivering the sponsor\u2019s remarks, the Executive Director, Stanbic IBTC Capital Limited, Mrs. Oyinda Akinyemi, stated that \u201cStanbic IBTC Capital is pleased to have acted as Lead Arranger\/Issuing and Paying Agent to the debut CP Issuances by Greenwich Merchant Bank. As the leading investment banking franchise in Nigeria, we pride ourselves in bringing new Issuers to the debt markets. The remarkable success of this transaction is reflected in the strong participation from a diverse group of investors. The quotation of these CPs on FMDQ Exchange will aid transparency and liquidity, further deepening the domestic debt markets. We thank the Board and Management of Greenwich Merchant Bank for trusting the team of professional advisers to deliver a successful transaction.\u201d<\/p>\n

FMDQ Group is Africa\u2019s first vertically integrated financial market infrastructure (\u201cFMI<\/strong>\u201d) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market ransactions; 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 \u2013 FMDQ
\nExchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a ustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa\u2019s premier Green Exchange \u2013 FMDQ Green Exchange \u2013 positioned to lead the transition towards a sustainable future.<\/p>\n

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