FMDQ Securities Exchange Limited, at the weekend, said it has approved the quotation of the Coronation Merchant Bank Limited’s ₦11.36bn Series 18 Commercial Papers (CP) under its ₦100.00bn Issuance Programme on its platform.

Coronation Merchant Bank Limited, in 2018, joined the league of companies whose debt profiles have been raised via the FMDQ Exchange.

The proceeds of the Coronation MB CP, co-sponsored by Coronation Merchant Bank Limited and Chapel Hill Denham Advisory Limited, a registration member (Quotations) of FMDQ Exchange, according to a statement, will be used to finance the Issuer’s working capital requirements. As the market participants and a host of other stakeholders continue to meet their funding needs effectively and invariably contribute to the development of the nation’s capital markets through its platform, FMDQ Exchange expressed commitment to taking crucial steps to deliver on its agenda of making the Nigerian financial markets globally competitive, operationally excellent, liquid and diverse.