DECEMBER 31st PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

0
335

CLICK TO DOWNLOAD

FMDQ OTC Restates Commitment to Development of Debt Capital Market

Goddy Egene

The FMDQ OTC Securities Exchange has restated its commitment to the development of the Nigerian debt capital market (DCM) through its highly efficient listing/quotations service.
Vice President, Business Development of FMDQ, Ms. Tumi Sekoni, restated the commitment while speaking at the  ceremony to list the Federal Government of Nigeria (FGN) FGN 30 year $1.5 billion Euro Bond, FGN 10 year $1.5 billion Euro Bond, FGN 5 Year $300 million Diaspora Bond on  FMDQ OTC exchange.

She commended the Debt Management Office (DMO)  for another successful outing by the federal government in the international markets.

According to her, via the listing of its Diaspora Bond, the government is providing  the opportunity for Nigerians in the international markets (and those in the domestic market with foreign capital) to contribute to the development of the Nigerian DCM and by extension, the economy.

 She stressed that   listing the bonds on FMDQ would rightly position the nation to continue to maximise its potential via the Nigerian DCM.

“The FMDQ   remains unyielding in its support for the development of the Nigerian DCM through its highly efficient listings/quotations service,” she declared.

According to her, following a series of strategic engagements between the DMO and FMDQ, and other stakeholders on the importance of listing the sovereign’s Eurobonds domestically, the DMO achieved this most significant accomplishment when it listed the $1.00 billion Eurobond on FMDQ in March 2017.

 She noted that less than a year later, the DMO, is again making history through the issuance and subsequent listing of the Diaspora Bond.

Also speaking at the ceremony, the Chief Executive Officer, Stanbic IBTC Holdings Plc, the sponsors of the issue,  Mr. Yinka Sanni,   said: “By proceeding to list these instruments on the domestic exchanges, the DMO once again has paved the way for corporate and bank issuers to follow suit, thereby adding to the depth and breadth of the domestic capital markets. We thereby applaud the DMO for this initiative.”

In her address, Director-General of the DMO, Ms. Patience Oniha,  said the listings would  increase number and range of securities available in the domestic capital markets, thereby deepening the market and promoting financial inclusion.

  “This listing  will give more visibility to the domestic debt capital markets, which will be beneficial for attracting capital from local and foreign investors. Furthermore, in the specific case of the Eurobond, because it is a sovereign security, the information it will provide such as coupon, yield and tenor will serve as benchmarks for corporates who intend to issue Eurobonds in the international capital markets,”  she added.