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FBNQuest Merchant Bank Sells N8.04bn Commercial Paper

By Dipo Olowookere

Commercial paper worth N8.04 billion has been issued to investors in Nigeria by FBNQuest Merchant Bank Limited, an arm of FBN Holdings Plc.

The debt instrument was issued by the lender in three different parts; N3.84 billion Series 7, N980 million Series 8 and N3.22 billion Series 9.

The exercise was conducted under the N100 billion Commercial Paper Issuance Programme of FBNQuest Merchant Bank.

Business Post gathered that recently, the company listed the N8.04 billion commercial papers issued to investors on the trading platform of FMDQ.

The debt instrument was listed after the approval of FMDQ, which has positioned itself to transform the Nigerian debt capital market.

With its streamlined and efficient registration process, FMDQ has continued to show its steadfastness in aligning the Nigerian DCM to international standards, through the promotion and provision of a world-class Listings and Quotations service, availing issuers and investors global visibility, confidence and protection in the markets.

The commercial papers market continues to provide companies renewed opportunity to grow their

businesses and restore the much-needed confidence of investors, whilst contributing to the overall

growth of the Nigerian economy.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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