FMDQ Securities Exchange Limited says it has admitted Union Bank of Nigeria’s ₦100.00 billion Commercial Paper (CP) Programme on its platform.
This brings the total number of registered securities (CPs, corporate bonds, sukuk, eurobonds, supranational bonds and funds) in 2022 to 110 with a total market value of ₦3.36 trillion.
FMDQ said the registration of this CP Programme, which is sponsored by UCML Capital Limited (Lead Sponsor), Standard Chartered Capital & Advisory Nigeria Limited and Renaissance Securities (Nigeria) Limited, tactically positions the bank to raise short-term finance from the Nigerian debt markets easily and quickly at a time in the future it determines suitable, through CP issues, within the CP Programme limit.
The exchange expressed commitment to continue to support the efficient allocation of capital by providing a credible platform for capital formation and effective intermediation towards fostering economic growth and development.
It added that it would continue to fulfill its market development, organiser, and governance mandates, by providing a cost-effective, efficient, well-regulated, transparent, and trusted platform where the raising and transfer of capital can take place, whilst adding value to its diverse stakeholder groups.
