Rand Merchant Bank Quotes N2.36bn CP on FMDQ Exchange

Kayode  Tokede

With a Commercial Paper (CP) market value of N3.25 trillion as of November 30, 2022, FMDQ Securities Exchange Limited (FMDQ Exchange) yesterday announced the admission of the quotation of the Rand Merchant Bank Nigeria Limited N0.55 billion Series 3 and N1.81 billion Series 4 CPs under its N80.00 billion CP Programme on its platform.

Rand Merchant Bank Nigeria Limited (Rand Merchant Bank) is a corporate and investment banking firm, which provides innovative advisory services on infrastructure projects, mergers and acquisitions, as well as the funding of various transactions across multiple sectors.

The proceeds from the quotation of the quoted CPs, which are co-sponsored by Standard Chartered Capital & Advisory Nigeria Limited – Lead Sponsor; FCMB Capital Markets Limited, FSDH Capital Limited, Rand Merchant Bank, and Stanbic IBTC Capital Limited (Co-Sponsors) – all Registration Member (Quotations) of the Exchange, will be utilised by the Issuer to support its short-term working capital and funding requirements.