FMDQ in the News

Sterling Bank PLC and FCMB SPV PLC Raise Debt Capital on FMDQ Markets Posted on: February 17, 2017

Sterling Bank PLC and FCMB SPV PLC Raise Debt Capital on FMDQ Markets. Just over a week after the admittance of the Forte Oil PLC Bond, FMDQ OTC Securities Exchange (“FMDQ” or “the OTC Exchange”) has admitted the quotation of the Sterling Bank PLC ₦2.40bn Series 1-3 Commercial Paper (CP) Notes (the Sterling Bank CP), under its N100.00bn CP Programme and the listing of the FCMB Financing SPV PLC ₦5.10bn 7-year 17.25% Series 3 Fixed Rate Unsecured Bond (the FCMB SPV Bond) under its ₦100.00bn Debt Issuance Programme, on its platform.

The successive admittance of these securities, following due approval from the FMDQ Board Listings, Markets and Technology Committee, attests to the highly efficient time to market and uniquely tailored Listings and Quotations service offered by FMDQ. In the coming weeks, respective ceremonies will be held in honour of the issuers, Sterling Bank PLC and FCMB SPV PLC to commemorate these achievements.

From the continuous provision of invaluable information, to global visibility, improved secondary market liquidity, efficient price formation and unique transparency, the activities and value-adding services of the OTC Exchange continue to be experienced by businesses, corporate and government entities with debt securities listed/quoted on FMDQ.

As part of FMDQ’s commitment to organise, govern and enforce credibility and transparency in the debt capital market space, the OTC Exchange has, through its innovative practices and the concerted efforts of its stakeholders, positively influenced the competitiveness of the Nigerian financial markets. FMDQ 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. Through the continued support for institutional growth, the OTC Exchange shall invariably contribute its quota to rejuvenating the vibrancy of the Nigerian economy.

 
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