Aduragbemi Omiyale
By Aduragbemi Omiyale
The N25 billion bond issued by Coronation Merchant Bank has been listed on the stock exchange. The debt instrument was admitted on the Nigerian Exchange (NGX) Limited on Wednesday, June 30, 2021.
The N25 billion Coronation Merchant Bank paper was sold to investors under the company’s N100 billion bond issuance programme. It has a tenor of five years and a coupon rate of 6.25 per cent.
With this issuance, NGX has supported the federal government and corporates to raise over N4.7 trillion from the capital market via the fixed income segment in the first half of 2021.
Issuers continue to express excitement and satisfaction over the ability to access capital from the market and list the securities on NGX to provide liquidity for investors, despite the prevailing weak macroeconomic conditions.
The exchange, on its part, has expressed and proven its commitment to providing issuers with a platform that allows them to raise capital to meet strategic business objectives even in the most difficult times.
“It is the exchange’s delight to see issuers take full advantage of our products and services to support their growth story,” the Divisional Head of Listings Business at NGX, Mr Olumide Bolumole, had previously stated.
Some of the issuers that have listed on NGX in the first half of 2021 include; NOVAMBL Investments SPV Plc, Federal Government of Nigeria, Mecure Industries Funding SPV Plc, CardinalStone Financing SPV Plc, Fidelity Bank Plc, FBNQuest Merchant Bank SPV Funding Plc, BUA Cement Plc, Etranzact International Plc, Kogi State Government, TSL SPV Plc, Lagos State Government and Flour Mills of Nigeria Plc.
