FMDQ Exchange Admits Flour Mills of Nigeria Bonds, NIDF Fund


Goddy Egene

FMDQ Securities Exchange Limited (FMDQ Exchange or the Exchange), has admitted the Flour Mills of Nigeria Plc Series 3 N12.49 billion tranche A and N7.50 billion tranche B Fixed Rate Senior Unsecured Bonds under the N70.00 billion Bond Issuance Programme, for listing on the exchange Proceeds from these bonds will be used to refinance the food giant’s short-term debt obligation as well as support its working capital. He exchange had in December 2018 admitted the Flour Mills of Nigeria Series 1 & 2 N20.11 billion bonds.

FMDQ also admitted the Chapel Hill Denham Nigeria Infrastructure Debt Fund Series 6 162.72 million Units of N100.00 each at N109.72 under the N200.00 billion Issuance Programme. The Chapel Hill NIDF, which is the pioneer Infrastructure Debt Fund in Nigeria and Sub-Saharan Africa, has its investment focus on the traditional infrastructure sectors, primarily transport, power, renewable energy, utilities, energy infrastructure, logistics and other public-private-partnership type investments. The Fund aims to enable investors access infrastructure as an asset class, while providing returns available from long-dated infrastructure debt investments.

Similarly, the Coronation Merchant Bank Limited N0.32 billion Series 7 and N6.64 billion Series 8 Commercial Papers (CP) under the N100.00 billion CP Issuance Programme was also admitted for quotation on the platform of FMDQ Exchange.

According to the exchange, the listings and quotation by these corporates continue to validate FMDQ Exchange as the choice platform for the registration, listing, quotation, trading and recording of financial securities in the Nigerian financial market.

“FMDQ Exchange strives to remain innovative even as it continues to provide timely and cost-efficient services, as may be necessary, to support its stakeholders, particularly issuers and investors, towards accessing capital, managing risks and invariably, improving their corporate profile,” it said.