FMDQ approves FBNQuest Merchant Bank N7.34bn CP

By Kayode Tokede

FMDQ Securities Exchange Ltd has approved the quotation of the FBNQuest Merchant Bank Ltd N7.34 billion series 19 Commercial Paper (CP) on its platform.

FMDQ Securities Exchange  in a statement explained that the quotation was under the bank’s N100 billion CP programme on its platform.

It said that the transaction followed due diligence process and was approved by the Board Listings and Markets Committee of the Exchange.

According to the statement, the net proceeds from this CP will support the issuer’s short term funding requirements.

FBNQuest Merchant Bank is a merchant banking firm that offers an array of financial services, including coverage & corporate banking, financial advisory, debt capital markets, equity capital markets, institutional sales, fixed income currency & treasury and wealth management.

The bank is committed to finding innovative solutions for its client base of high net-worth individuals, small and medium enterprises, corporates, financial institutions and governments, whilst catering to their diverse financial needs.

FMDQ Group is Africa’s first vertically integrated financial market infrastructure group, strategically positioned to provide registration, listing & quotation services and seamless trading, amongst others.