Aduragbemi Omiyale
By Aduragbemi Omiyale
In 2023, the services of FBNQuest Merchant Bank, the investment banking and asset management subsidiary of FBN Holdings Plc, were required for the issuance of commercial papers and bonds worth over N677 billion in the capital market.
FBNQuest Merchant Bank has a strong reputation for helping indigenous and multinational corporates access the capital markets to meet their funding goals.
The performance of the bank in the debt capital market reflects its strong expertise, execution capability, and client loyalty, as well as its ability to provide innovative and tailored solutions to meet the diverse financing needs of its clients.
The organisation has received numerous awards for its exceptional contributions to the industry, innovative solutions, and commitment to excellence.
These awards include the 2023 FMDQ Gold Award for the highest value of CP and the AIHN award for Best Commercial Paper House.
“We are proud of our achievements in the debt capital market. We were able to leverage our deep market knowledge and distribution networks to deliver value for our clients and help them navigate the business environment.
“We also helped our clients take advantage of the lower interest rates offered by commercial paper and bond instruments. We remain committed to supporting the growth and development of our clients and the Nigerian economy at large,” the Executive Director of Wholesale Banking at FBNQuest Merchant Bank, Mr Afolabi Olorode, stated.
Business Post reports that the lender acted as an arranger for commercial paper issuances for some of the most notable issuers in the market, including MTN Nigeria, Nigerian Breweries, Flour Mills of Nigeria, and Daraju Industries Limited.
In the period under review, the firm acted as a joint issuing house for the Lagos State Government and Flour Mills of Nigeria helping to raise a total of over N170 billion which places them in the top 5 bond issuers for 2023.
Commercial papers are short-term debt instruments issued by corporations to finance their working capital needs, becoming an integral source of capital for corporate entities, while bonds are long-term debt instruments issued by corporates and governments to raise funds for various purposes.
