FMDQ Securities Exchange Limited has approved the quotation of N12.38 billion Coronation Merchant Bank and Mixta Real Estate Plc Commercial Papers (CP) Issuance Programme on its platform.
The Issuances comprise of Coronation Merchant Bank Limited N11.36 billion Series 18 CP under its N100.00 billion CP Issuance Programme and Mixta Real Estate N1.02 billion Series 36 Commercial Paper under its N20.00 billion CP.
Coronation Merchant Bank has joined the league of other companies whose debt profiles have been raised via the value-packed quotations service offered by FMDQ Exchange, while, Mixta Real Estate, a subsidiary of Mixta Africa, is a real estate development company in Nigeria with a strong track record, diverse real estate portfolio, and operations spanning the residential, commercial, and retail sectors of the Nigerian real estate industry.
FMDQ Securities Exchange said: “the continuous admission of securities to FMDQ Exchange’s platform is reflective of the potential of the Nigerian debt capital market and the commendable level of confidence demonstrated by both issuers and investors in the market.”
The Exchange said, the proceeds from the quotation of this CP will be used to finance the Issuer’s working capital requirements.
It added that, “the admission of Mixta Real Estate CP on FMDQ Exchange, which is sponsored by FBNQuest Merchant Bank, a Registration Member (Quotation), serves to re-affirm FMDQ Exchange’s efforts in boosting investor confidence and reinventing the Nigerian CP market.