Rand Merchant Bank Nigeria Limited Quotes ₦2.36 Billion C.P. on FMDQ Exchange

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    To guarantee sustained business operations in the current challenging economic environment, corporate institutions have continued to explore alternative financing options by tapping the debt capital market to plug capital shortfalls. With a Commercial Paper, CP, market value of ₦3.25 trillion as of November 30, 2022, FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”) is pleased to announce the admission of the quotation of the Rand Merchant Bank Nigeria Limited ₦0.55 billion Series 3 and ₦1.81 billion Series 4 CPs under its ₦80.00 billion CP Programme on its platform.

     

    Rand Merchant Bank Nigeria Limited (“Rand Merchant Bank” or the “Issuer”) is a corporate and investment banking firm, which provides innovative advisory services on infrastructure projects, mergers and acquisitions, as well as the funding of various transactions across multiple sectors. The proceeds from the quotation of the quoted CPs, which are co-sponsored by Standard Chartered Capital & Advisory Nigeria Limited – Lead Sponsor; FCMB Capital Markets Limited, FSDH Capital Limited, Rand Merchant Bank, and Stanbic IBTC Capital Limited (Co-Sponsors) – all Registration Member (Quotations) of the Exchange, will be utilised by the Issuer to support its short-term working capital and funding requirements.

     

    “As part of its efforts towards unlocking the potential of the Nigerian economy, FMDQ Exchange shall continue to support institutional growth and stimulate continuous development of the economy at large, through the provision of a world-class Securities Admission Service, in line with its mandate. The Exchange will continue to demonstrate commitment towards delivering a globally competitive, operationally excellent, liquid and diverse, GOLD, standard to the Nigerian debt capital market, availing issuers and investors the much-needed global visibility, confidence and protection in the markets”, stated FMDQ.

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