Lagos, Nigeria, July, 2021 – FBNQuest, the investment banking and asset management business of FBN Holdings Plc, has announced the listing and acceptance of the FBNQuest Merchant Bank Series 19 Commercial Paper (CP) on the FMDQ Securities Exchange Limited platform.
FBNQuest Merchant Bank acted as the Arranger, Dealer and Sponsor of the transaction. The issue was approved by the FMDQ Securities Exchange Limited and has been listed on its platform.
The offer was launched in June. The Series 19 CP, which is part of the bank’s N100 billion CP Program, will help the organisation meet its short-term liquidity needs and grant them access to alternative and cheaper source of funding.
The transaction adds to the organisation’s impressive portfolio and highlights its capabilities in the successful execution of sizeable capital market and commercial debt transactions. Speaking on the transaction Oluseun Olatidoye, Head Capital Markets, FBNQuest Merchant Bank, stated, “We are pleased to announce the listing and acceptance of the FBNQuest Merchant Bank Series 19 Commercial Paper on the FMDQ Securities Exchange Limited’s Platform. The admission of the CP Offering on FMDQ’s platform reflects the potential and growth of the Nigerian Debt Capital market”.
He further stated that “The success recorded on this transaction also attests to the degree of confidence investors have in the business”.
As a full service investment bank, FBNQuest has advised on the issuance of several Bonds and Commercial Papers for organisations such as Interswitch; Mixta Real Estate plc, Dangote Cement Plc, Nigerian Breweries Plc (NB), Lafarge Africa Plc, Flour Mills of Nigeria Plc (FMN), Wema Bank Plc, and UACN Property Development Company Plc (UPDC) to mention a few.
The organisation, through its Leading Conversations with FBNQuest webinar series, recommended commercial papers and bonds to corporate issuers seeking to raise working capital, expand capital, refinance expensive debt and better match their cash obligations with revenues. The webinar was themed ‘Funding through Commercial Papers and Bonds’ and was designed to engage corporates and investors on the opportunities within issuing and investing in commercial papers and bonds. Please visit www.fbnquest.com to watch the session.
FBNQuest is the unified brand name for the Merchant Banking and Asset Management businesses of FBN Holdings Plc, one of the strongest and most dependable financial service groups in sub-Saharan Africa.
The businesses include FBNQuest Merchant Bank, FBNQuest Asset Management, FBNQuest Securities, FBNQuest Capital, FBNQuest Trustees and FBNQuest Funds.
Located in Lagos, Abuja and Port Harcourt, our broad range of services ensure we offer bespoke solutions to our clients. So, whether you are searching for a guide to investing, business financing or advice on the preservation of your wealth, our world-class team will partner with you to understand your needs and deliver a tailored solution for a new tomorrow.