Sterling Bank, FCMB Raise Debt Capital on FMDQ Markets

February 18, 2017
Sterling Bank, FCMB Raise Debt Capital on FMDQ Markets

Sterling Bank, FCMB Raise Debt Capital on FMDQ Markets

By Modupe Gbadeyanka

FMDQ OTC Securities Exchange has admitted the quotation of the Sterling Bank Plc N2.40 billion Series 1-3 Commercial Paper (CP) Notes, under its N100 billion CP Programme and the listing of the FCMB Financing SPV PLC N5.10 billion 7-year 17.25 percent Series 3 Fixed Rate Unsecured Bond under its N100 billion Debt Issuance Programme on its platform.

This come just over a week after FMDQ OTC Securities Exchange also admitted the Forte Oil Plc Bond on it 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.

Business Post gathered that 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.

The platform promises to 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.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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