Business

FMDQ admits Coronation Merchant Bank’s CPs

FMDQ Securities Exchange Limited has approved the quotation of Coronation Merchant Bank Limited’s N0.71 billion Series 13 and N14.13 billion Series 14 Commercial Papers (CPs) in March 2021, and the N1.41 billion Series 15 and N20.19 billion Series 16 CPs in May 2021, both under its N100.00 billion CP programme, on its platform.

According to FMDQ in a statement, the net proceeds from the CPs will support the Issuer’s short term funding requirements. Coronation Merchant Bank Limited provides merchant banking services, which include assets/ fund management services, securities trading, treasury services, 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 so doing, deliver sustainable value to its shareholders whilst positively impacting on the Nigerian economy. Commenting on the completion of the commercial papers quotation, the MD/CEO, Coronation Merchant Bank Limited, Banjo Adegbohungbe, said: “We are delighted at the successful issuance and subsequent quotation of the Bank’s N0.71 billion Series 13 and N14.13 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.”

 

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