Dangote Industries’ N300 Billion Bond Gets Listed On FMDQ
In keeping with tradition, FMDQ Exchange conducted a listing celebration to commemorate the achievement of the Series 1 and Series 2 bonds being listed on the exchange in November 2022 and March 2023, respectively.
Tumi Sekoni, managing director of FMDQ Exchange, is represented by Jumoke Olaniyan, senior vice president of the FMDQ Exchange’s business development division. commended the issuer and sponsors on their accomplishment and said that their choice to raise money from the debt markets via the Exchange’s platform was a tribute to the Exchange’s extremely effective time-to-market and unmatched listing and quote service.
As she reiterated the exchange’s commitment to innovation and the delivery of effective services to assist issuers and investors in achieving an operationally excellent and globally competitive debt market, she also commended the bond sponsors for their coordinated efforts to ensure the success of the issuances.
On behalf of the other sponsors of the Series 1 bonds, the Chief Executive Officer of Standard Chartered Capital and Advisory Nigeria Ltd, Yemisi Deji-Bejide, stated: “Standard Chartered Capital and Advisory Nigeria Limited is proud to have led this historic transaction.
“The tenacity as well as the depth and resilience of the Nigerian domestic markets, despite the global market volatility,” she added.
To increase its operating capital, Flour Mills of Nigeria (FMN) Plc also listed N64.97 billion in commercial paper (CP) on the FMDQ platform.
The profits will be used to assist the firm’s short-term finance needs, according to the securities exchange, which announced the listing of FMN Plc’s N13.33 billion Series 1 and N51.64 billion Series 2 CP under its N200 billion CP Issuance Programme on its platform.
According to Anders Kristiansson, Group Chief Financial Officer at Flour Mills of Nigeria Plc, the joint quotation aims to use alternative funding sources to cover the company’s operational and other capital requirements.
The company, he continued, aspires to make deeper strategic and growth-consolidating investments across value chains in order to be able to unleash capabilities that would allow it to provide customers with more value.