FMDQ Exchange admits Coronation Merchant Bank’s CPs

FMDQ Securities Exchange Limited has approved the quotation on its platform of the Coronation Merchant Bank Limited N0.71 billion Series 13 and N14.13 billion Series 14 Commercial Papers, and the N1.41 billion Series 15 and N20.19 billion Series 16 CPs, both under its N100.00 billion CP Programme.

The Exchange disclosed this in a statement on Monday, saying the net proceeds from the CPs would support the issuer’s short-term funding requirements.

The Managing Director/Chief Executive Officer, Coronation Merchant Bank, Banjo Adegbohungbe, was quoted as saying, “We are delighted at the successful issuance and subsequent quotation of the bank’s N0.71 billion Series 13 and N14.13 billion Series 14 Commercial Papers.

“This transaction further underscores the confidence of investors in our brand and entrenches our continuous leadership in the use of market instruments to create shared prosperity for all stakeholders.”