Coronation Merchant Bank quotes N11.36bn CP on FMDQ



 The FMDQ Securities Exchange Ltd has approved the quotation of Coronation Merchant Bank Ltd N11.36 billion Series 18 Papers on its platform.

FMDQ disclosed in a available to the News Agency of Nigeria (NAN) on Friday in Lagos.

The noted that the offer was approved by FMDQ’s Board Listings and Markets Committee under the bank’s N100 billion CP issuance programme.

It added that the proceeds from the CP would be used to the issuer’s working capital requirements.

According to the , the CP was co-sponsored on the Exchange by Coronation Merchant Bank Ltd and Chapel Hill Denham Advisory Ltd.

It added that the issuer, in 2018, joined the league of other whose debt profiles had been raised via the value-packed quotations service offered by the FMDQ Exchange.

“The continuous admission of securities to FMDQ Exchange’s platform reflective of the potential of the Nigerian debt capital market and the commendable level of confidence demonstrated by both issuers and investors in the market,” it said.

Coronation Merchant Bank Africa’s premier investment bank that innovative solutions to the needs of corporations, and other financial services organisations. (NAN)