BEVERLY HILLS, May 11, (THEWILL) – FMDQ Securities Exchange Limited has approved the quotation of the Coronation Merchant Bank Limited ₦0.71 billion Commercial Papers (CP).
The CPs consist of Series 13 and ₦14.13 billion Series 14 Commercial Papers (CPs) in March 2021, and the ₦1.41 billion Series 15 and ₦20.19 billion Series 16 CPs in May 2021.
Both are under the FMDQ Exchange ₦100.00 billion CP Programme, on its platform. The net proceeds from these CPs will support the Issuer’s short term funding requirements.
A statement by FMDQ Exchange stated that Coronation Merchant Bank Limited provides merchant banking services, which include assets/fund management services, securities trading and treasury services.
Others are investment banking and corporate banking services to corporate institutions, institutional investors and high net worth individuals.
“The Bank aims to place its clients ahead of the curve in their sphere of operations and by doing so, deliver sustainable value to its shareholders whilst positively impacting on the Nigerian economy”, the statement further noted.
Commenting on the completion of the commercial papers quotation, the MD/CEO, Coronation Merchant Bank Limited, Banjo Adegbohungbe, stated, “we are delighted at the successful issuance and subsequent quotation of the Bank’s ₦0.71 billion Series 13 and ₦14.13 billion Series 14 Commercial Papers. This transaction further underscores the confidence of investors in our brand and entrenches our continuous leadership in the use of market instruments to create shared prosperity for all stakeholders”.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
