FMDQ exchange admits Greenwich Merchant Bank’s N12.20bn commercial paper

FMDQ Securities Exchange Limited (FMDQ) has announced the approval for the quotation of the Greenwich Merchant Bank Limited N12.20 billion Series 1 and Series 2 Commercial Papers under its N100.00 billion CP Issuance Programme on its Platform.

FMDQ noted that 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.

The Group Managing Director/Chief Executive Officer, of Greenwich Merchant Bank, Mr. Bayo Rotimi reacting to the development stated that Greenwich Merchant Bank’s maiden CP Issuance was 22.00 per cent oversubscribed with orders of over N12.20 billion, confirming the strength of the company’s value proposition to the Nigerian economy.

“The quotation of the CPs on the FMDQ Exchange will aid transparency and liquidity, further deepening the domestic debt markets,” he said.