FMDQ Exchange Marks N12.2bn Of Greenwich Merchant Bank CP Quotation
Caption: Bayo Rotimi, Group Managing Director/Chief Executive Officer, Greenwich Merchant Bank Limited (left); and Ayodele Onawunmi, Managing Director, FMDQ Clear Limited, at the Quotation Ceremony for the Greenwich Merchant Bank Limited ₦12.2bn Series 1 and Series 2 Commercial Papers on FMDQ Securities Exchange Limited, in Lagos recently.
FMDQ Securities Exchange Limited has approved the quotation of the Greenwich Merchant Bank Limited ₦12.2bn Series 1 and Series 2 Commercial Papers under its ₦100bn CP Issuance Programme on its Platform.
Greenwich Merchant Bank Limited is a Nigerian financial institution that provides a wide array of banking and financial services to corporate organisations, high-net-worth individuals, and institutional clients.
To mark this remarkable accomplishment, FMDQ Exchange held a Quotation Ceremony last month, attended by its Group Managing Director/Chief Executive Officer, Bayo Rotimi, who led a team.
Others were the Sponsors of the CPs – Stanbic IBTC Capital Limited (Lead Sponsor), Afrinvest Capital Limited, ARM Securities Limited, Greenwich Merchant Bank Limited and Rand Merchant Bank Nigeria Limited (Co-Sponsors) – all Registration Member (Quotations) of FMDQ Exchange, as well as other parties to the issue, were present at the Ceremony.
Welcoming guests to the ceremony, Ms. Tumi Sekoni, Managing Director, FMDQ Exchange, represented by Ms. Jumoke Olaniyan, Senior Vice President, Business Development Division, FMDQ Exchange, congratulated the Issuer and other parties for the remarkable job well done towards ensuring the success of the issuances. Ms. Olaniyan further noted that with the growing interest of corporate entities in the CP market to finance short-term funding and liquidity requirements through the debt markets, FMDQ Exchange will continue to maintain a dependable and resilient platform for the quotation of CPs, thereby facilitating uninterrupted access to capital for businesses.
The Group Managing Director/Chief Executive Officer, Greenwich Merchant Bank, Bayo Rotimi whilst delivering the Special Address, stated that “Greenwich Merchant Bank’s maiden CP Issuance was 22% oversubscribed with orders of over ₦12.2bn, confirming the strength of our value proposition to the Nigerian economy. We remain committed to delivering innovative and cutting-edge financial solutions to discerning issuers and investors towards creating viable alternatives and deepening the Nigerian capital markets.”
Delivering the sponsor’s remarks, the Executive Director, Stanbic IBTC Capital Limited, Mrs. Oyinda Akinyemi, stated that “Stanbic IBTC Capital is pleased to have acted as Lead Arranger/Issuing and Paying Agent to the debut CP Issuances by Greenwich Merchant Bank. As the leading investment banking franchise in Nigeria, we pride ourselves in bringing new Issuers to the debt markets. The remarkable success of this transaction is reflected in the strong participation from a diverse group of investors. The quotation of these CPs on FMDQ Exchange will aid transparency and liquidity, further deepening the domestic debt markets. We thank the Board and Management of Greenwich Merchant Bank for trusting the team of professional advisers to deliver a successful transaction.”