FMDQ Exchange admits Union Bank of Nigeria CP programme

FMDQ Securities Exchange Limited has once again demonstrated operational excellence in the processing and approval of the registration of the Union Bank of Nigeria Plc N100 billion Commercial Paper (CP) Programme, on the Exchange platform in September 2022.

This registration will bring the total number of securities admitted on FMDQ Exchange to 110  with a total market value of N3.36 trillion.

Union Bank of Nigeria is one of Nigeria’s long-standing banking institutions that offers a portfolio of banking services to individuals, small and medium-scale enterprises, commercial and corporate clients.

The registration of this CP Programme, which is sponsored by UCML Capital Limited (Lead Sponsor), Standard Chartered Capital & Advisory Nigeria Limited and Renaissance Securities (Nigeria) Limited – all Registration Member (Quotations) of FMDQ Exchange, tactically positions Union Bank to raise short-term finance from the Nigerian debt markets easily and quickly at a time in the future it determines suitable, through CP issues, within the CP Programme limit.

In support of its mandate to deepen the Nigerian financial markets, FMDQ Exchange will continue to support the efficient allocation of capital by providing a credible platform for capital formation and effective intermediation towards fostering economic growth and development.

The Exchange will continue to fulfil its market development, organiser, and governance mandates, by providing a cost-effective, efficient, well-regulated, transparent, and trusted platform where the raising and transfer of capital can take place, whilst adding value to its diverse stakeholder groups.