By Goddy Egene
FMDQ Securities Exchange Limited has approved the listing of the FSDH Funding SPV Plc’s N7.05 billion Tranche A and N4.95 billion Tranche B Series 1 Fixed Rate Bonds, under the company’s N30 billion Debt Issuance Programme on its platform.
FSDH Funding SPV Plc is a special purpose vehicle set up to raise capital from the Nigerian debt capital market for FSDH Merchant Bank Limited.
Speaking on the issuance of the bonds, the Director, FSDH Funding SPV Plc, Mr. Adekunle Awojobi, said they were pleased about the successful N12 billion capital-raise under the FSDH Funding SPV Plc’s N30.00 billion Debt Issuance Programme.
“The bond issue is the first series under the programme and comprises of two tranches (Tranche A & B) of subordinated and senior bond notes, each with a 5-year tenure. The listing of the bonds on FMDQ’s platform will help provide visibility and enhance the liquidity of the bonds. The net proceeds of the bond issue will be used to fund the growth of risk assets of the sponsor, FSDH Merchant Bank Limited. A portion of the bond issuance will serve the dual purpose of shoring up the bank’s Tier 2 capital, in line with its internal capital adequacy assessment process,” he said.
He commended Union Capital Markets Limited for facilitating the listing of the bonds on FMDQ Exchange and the issuing houses, Stanbic IBTC Capital Limited, FSDH Capital Limited, Rand Merchant Bank Nigeria Limited, and United Capital Plc for their support in ensuring the successful capital raise”.
Speaking in the same vein, the Director, Union Capital Markets Limited, Mr. Egie Akpata, said: “We are delighted at the successful listing of the N12.00 billion FSDH Funding SPV Plc Series 1 bonds on FMDQ Exchange. The listing of the bonds on the exchange allows for liquidity and trading of the bonds which is positive for the investors. We are glad that Union Capital Markets Limited was instrumental in the successful listing of the bonds on FMDQ Exchange and thank the board and management of FSDH Merchant Bank Limited for the opportunity to work with them.”
Meanwhile, trading at the stock market remained bullish as the Nigerian Exchange Limited (NGX) All-Share Index appreciated by 0.2 per cent to close at 39,382.96, while market capitalisation added N36.6 billion to be at N20.5 trillion.
