The Nigerian Stock Exchange (NSE) on Friday listed FBNQuest Merchant Bank N5 billion three-year 10.50 per cent bond on the bourse.
The listing was commemorated with a digital closing gong done due to the COVID-19 pandemic in the country.
Commenting on the listing, Oscar Onyema, NSE Chief Executive Officer, commended FBNQuest Merchant Bank for the debut listing of its N5 billion Series 1 bond on the Exchange.
Onyema said the Exchange would continue to support the bank in meeting its capital raising needs and business objectives.
“We also commend all the parties to the transaction.
“At the NSE, we are committed to giving issuers and investors a platform to access right-sized capital; even in the toughest of times as well as providing opportunities for secondary market trading activities across multiple asset classes, including equities, bonds and ETFs.
“Today, FBNQuest Merchant Bank is a beneficiary of this and we are pleased to welcome them,” Onyema said.
Speaking on the transaction, Mr Kayode Akinkugbe, FBNQuest Managing Director, commended market participants for the success of the bond.
“We are pleased to announce the listing of the FBNQuest Funding Special Purpose Vehicle Bond on The Nigerian Stock Exchange.
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“This is the debut bond issued by the organisation, and the success recorded attests to the degree of confidence investors have in the business.
“As a full-service investment bank and asset manager, we advised on the bond issuance and structure, and also leveraged our extensive distribution capability to ensure the success of the transaction,” he stated.
FBNQuest Merchant Bank will be the second organisation honoured with a digital closing gong following the maiden edition earlier held in April with Sterling Bank.
The NSE digital closing gong ceremony attests to the resilience of the NSE’s technology platforms which have supported Dealing Members in trading remotely without incident via electronic platforms.
In the past weeks, NSE has listed Flour Mills N12.5 billion three-year and N7.5 billion five-year Bonds; Primero BRT Securitisation SPV Plc bond worth N16.5 billion, and several Government bonds worth over N160 billion.