{"id":20014,"date":"2022-03-15T09:51:22","date_gmt":"2022-03-15T09:51:22","guid":{"rendered":"https:\/\/fmdqgroup.com\/exchange\/ardova-plc-lists-tranche-a-and-b-series-1-bonds-on-fmdq-exchange\/"},"modified":"2022-04-19T11:38:58","modified_gmt":"2022-04-19T11:38:58","slug":"ardova-plc-lists-tranche-a-and-b-series-1-bonds-on-fmdq-exchange","status":"publish","type":"post","link":"https:\/\/fmdqgroup.com\/exchange\/ardova-plc-lists-tranche-a-and-b-series-1-bonds-on-fmdq-exchange\/","title":{"rendered":"Ardova PLC Lists Tranche A and B Series 1 Bonds on FMDQ Exchange"},"content":{"rendered":"
\n

\"\"<\/p>\n

As a financial market infrastructure positioned to champion and support market-driven initiatives toward facilitating growth and development in the Nigerian financial markets, FMDQ Securities Exchange Limited (\u201cFMDQ Exchange\u201d or \u201cthe Exchange\u201d), through its Board Listings and Markets Committee, admitted the listing of the Ardova PLC \u20a611.44 billion Tranche A and \u20a613.86 billion Tranche B Series 1 Fixed Rate Bonds under its \u20a660.00 billion Bond Issuance Programme<\/strong> on its platform.<\/p>\n

Ardova PLC (\u201cArdova\u201d or \u201cthe Issuer\u201d) is a leading indigenous and integrated energy company involved in the distribution of petroleum products. With an extensive network of over four hundred and fifty (450) retail outlets in Nigeria and significant storage facilities, Ardova procures and distributes petrol (PMS), diesel (AGO), kerosene (DPK) and liquefied petroleum gas (LPG), and also manufactures and distributes a wide range of quality lubricants from its oil blending plant in Lagos. The proceeds generated from these issuances will be utilized by the issuer for retail expansion projects, upgrade of existing infrastructures, provision for debt service reserve account funding, and other working capital requirements.<\/p>\n

The Chief Executive Officer, Ardova PLC, Mr. Olumide Adeosun, commented on the listing, stating \u201cwe are humbled by the warm reception of our Tranche A and Tranche B Series 1 bonds issued by Nigeria\u2019s ever-growing institutional investor community. The 7-year and 10-year tranches provide Ardova with the much-needed flexibility to expand our operations and increase our footprint across the country. Our relationship with Nigeria\u2019s debt capital markets commenced in December 2016 with the issuance of the Company\u2019s debut bonds. This landmark transaction evidences our commitment to nurturing this relationship and adopting the debt capital markets as a fundamental part of our funding strategy on our journey towards being the largest supplier of energy for a brave new world\u201d.<\/p>\n

Also speaking on the successful issuances, the sponsor of the bonds and a Registration Member (Listings) of FMDQ Exchange, Vetiva Capital Management Limited, represented by the Managing Director\/Chief Executive Officer, Mr. Chuka Eseka said \u201cVetiva is delighted to have provided Ardova with full-scope advisory and issuing house services on the offer. The success of the transaction demonstrates investors\u2019 confidence in the management, vision, and purpose of the Ardova team and we thank the Board and management of Ardova for giving Vetiva the opportunity to lead on this landmark transaction. We are very proud to be associated with Ardova and look forward to extending our advisory capabilities to the Company on its other strategic initiatives\u201d.<\/p>\n

The admittance of the Ardova bonds on the FMDQ Exchange platform validates the Exchange\u2019s conscious drive to support the goals of corporate businesses and to deepen the Nigerian debt capital market by steadfastly availing its efficient platform for the registration, listing and quotation of debt securities.<\/p>\n

FMDQ Group is Africa\u2019s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation, and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; 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 Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-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

The post Ardova PLC Lists Tranche A and B Series 1 Bonds on FMDQ Exchange<\/a> first appeared on FMDQ Group<\/a>.<\/p>\n

The post Ardova PLC Lists Tranche A and B Series 1 Bonds on FMDQ Exchange<\/a> appeared first on FMDQ Group<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\"\"<\/p>\n

As a financial market infrastructure positioned to champion and support market-driven initiatives towards facilitating growth and development in the Nigerian financial markets, FMDQ Securities Exchange Limited (\u201cFMDQ Exchange\u201d or \u201cthe \u2026<\/p>\n

Ardova PLC Lists Tranche A and B Series 1 Bonds on FMDQ Exchange<\/span> Read More \u00bb<\/a><\/p>\n

The post Ardova PLC Lists Tranche A and B Series 1 Bonds on FMDQ Exchange<\/a> first appeared on FMDQ Group<\/a>.<\/p>\n

The post Ardova PLC Lists Tranche A and B Series 1 Bonds on FMDQ Exchange<\/a> appeared first on FMDQ Group<\/a>.<\/p>\n<\/div>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"page_builder":"","footnotes":""},"categories":[192],"tags":[],"class_list":["post-20014","post","type-post","status-publish","format-standard","hentry","category-fmdq-in-the-news"],"_links":{"self":[{"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/posts\/20014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/comments?post=20014"}],"version-history":[{"count":0,"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/posts\/20014\/revisions"}],"wp:attachment":[{"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/media?parent=20014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/categories?post=20014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/tags?post=20014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}