FMDQ Exchange admits Dangote Cement’s ₦100.00bn commercial paper notes

FMDQ Securities Exchange Limited  has approved the quotation of the Dangote Cement PLC ₦34.00 billion Series 15 and ₦66.00 billion Series 16 Commercial Paper (CP) notes under its ₦150.00 billion Domestic CP Issuance Programme on the Exchange’s platform.

The Dangote Cement CP issuance and subsequent quotations on FMDQ Exchange, is remarkably, the largest CP issuance by a non-financial institution in Nigeria.

Despite the economic headwinds associated with the transition of businesses into the “new normal” in view of the COVID-19 pandemic, other previous note-worthy debt issuances on the Exchange, include the recently quoted Flour Mills of Nigeria ₦30.00bn CP notes, Sterling Bank ₦15.00bn CP notes and the United Capital ₦5.32bn CP notes, amongst others.

This efficient listings and quotations service offered by FMDQ Exchange further buttresses the Exchange’s continued efforts to position the Nigerian capital market to support corporates and businesses seeking to raise capital to finance their funding needs.

FMDQ Holdings PLC has through its subsidiary, FMDQ Exchange, continued to provide the required support to governments, corporates, and individuals through the delivery of innovative and dependable capital market solutions.

In a statement,  the Exchange assured that “As with previous notes issued under the Programme and like all other securities listed, quoted and traded on the FMDQ Exchange platform, the Dangote Cement CPs shall be availed global visibility through FMDQ Exchange’s website and systems, as well as through their inclusion in the FMDQ Daily Quotations List, in order to ensure and maintain information transparency.”

“Through the Listings and Quotations Compliance function at FMDQ Exchange, investors are guaranteed continued disclosure of the issuer’s obligations to enable this important category of market stakeholders make informed decisions. In line with the Group’s vertically integrated market structure, investors are also provided a secure securities depository for the lodgement of their assets via FMDQ Depository Limited, thus ensuring an efficient and seamless flow of transactions from start to finish on FMDQ.” 

Source: Voice of Nigeria