FMDQ Exchange admits FBNQuest Merchant Bank’s commercial paper

FMDQ Securities Exchange Limited has approved the quotation of the FBNQuest Merchant Bank Limited N7.34 billion Series 19 Commercial Paper under its N100.00 billion CP Programme on its platform.

It said in a statement on Friday that the net proceeds from this CP would support the issuer’s short-term funding requirements.

The Exchange said it had continued to avail its credible and efficient platform as well as tailor its listing and quotation services to suit the needs of issuers and its registration members (sponsors of issuances on FMDQ Exchange).

It said, “The timely admission of this CP issue, and in general, all securities on FMDQ Exchange, is reflective of the potential of the Nigerian debt capital market and the commendable level of confidence demonstrated by both issuers and investors in the market.

“In line with the value proposition of FMDQ Exchange, the CP, shall be availed global visibility (through the Exchange’s website and systems), governance, continuous information disclosure to protect investors’ interest and credible price formation, amongst other benefits derived from the FMDQ Exchange platform.”

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