Coronation Merchant bank lists N25bn bond on NGX

The Nigerian Exchange Limited said on Thursday that Coronation Merchant Bank Funding SPV Plc listed Series 1 fixed-rate N25 billion bond on Wednesday with a tenor of five years at 6.25 per cent.

The exchange said in a statement that the subordinated unsecured bond due by 2025 was listed under the company’s N100 billion bond issuance program.

The NGX said with the development, its support to the Federal Government and corporate organisations via fixed income segments in the first half of the year had surpassed N4.7 trillion.

The NGX said, “Issuers continue to express excitement and satisfaction over the ability to access capital from the market and list the securities on NGX to provide liquidity for investors, despite the prevailing weak macroeconomic conditions.

“NGX on its part has expressed and proven its commitment to providing issuers with a platform that allows them to raise capital to meet strategic business objectives even in the most difficult times.”

The Divisional Head, Listings Business, NGX, Olumide Bolumole, said, “It is the Exchange’s delight to see issuers take full advantage of our products and services to support their growth story.”