FMDQ Admits Axxela N11.5bn Series 1 Bond

Axxela N11.5bn bond

By Adedapo Adesanya

FMDQ Securities Exchange has admitted Axxela Funding 1 PLC N11.5 billion series 1 bond under its N50 billion bond programme.

In a statement, the FMDQ Group said that Axxela Funding was admitted through its subsidiary, FMDQ Securities Exchange Limited.

According to the statement, Axxela Funding 1 PLC is a special purpose vehicle (SPV) incorporated by Axxela Limited to raise funds through the issuance of debt securities in the domestic capital market.

“Axxela Limited, owned by Helios Investment Partners, is a natural gas shipping company on the West African Gas Pipeline, providing unique energy solutions with presence in Nigeria and gas export operations in neighbouring West African countries.

“The admittance of the Axxela bond is testament to the opportunities which the Nigeria Debt Market Capital (DCM) avails to corporates in diverse business areas and further, to the potential of the market to support stakeholders effectively even as they carry on their activities in the face of the pandemic.

“The Axxela bond, by its listing on FMDQ, shall be admitted onto the FMDQ Daily Quotations List; thus, promoting the much-needed transparency for investors and providing a credible basis for portfolio valuation daily.

“Also, through the global visibility which the FMDQ website and systems guarantee, the corporate profile of the issuer is raised even further ahead of tapping into other opportunities in the Nigerian capital market,” it said.

The statement highlighted the roles of the DCM, which played an important role in the efficient mobilisation and allocation of resources in the economy and despite the impact of the current times, the market had continued to effectively support corporate firms looking to expand their business operations.

“It is in this regard that FMDQ Holdings PLC (FMDQ Group or FMDQ) in its role as a market organiser of the Nigerian DCM, amongst others, has continued to provide stakeholders in the Nigerian capital market with a credible and robust platform for capital access, risk management and transfer of value,” it said.

FMDQ Group is Africa’s first vertically integrated Financial Market Infrastructure (FMI) group which provides a one-stop platform for the seamless and cost-efficient execution, risk management, clearing, settlement, depository,  data and information services for the Nigerian financial market, through its subsidiaries: FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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