NSE Marks FBNQuest Merchant Bank’s N5bn Bond Listing

The Nigerian Stock Exchange (NSE), on Friday successfully listed FBNQuest Merchant Bank’s N5bn three-year 10.50% Bond.
The listing, which was commemorated with a digital closing gong ceremony on Friday, 15 May 2020, it said in a statement, is in fulfillment of its resolve to provide stakeholders with access to capital, even in the face of the coronavirus (COVID-19) pandemic.
Commenting on the listing, the Chief Executive of the NSE, Oscar Onyema, while welcoming FBNQuest Merchant Bank’s debut listing of its N5 billion Series 1 Bond, said it is to enable “the bank in meeting its capital raising needs and business objectives.
“We also commend all the parties to the transaction. At the NSE, we are committed to giving issuers and investors a platform to access right-sized capital even in the toughest of times as well as providing opportunities for secondary market trading activities across multiple asset classes – equities, bonds, ETFs. Today, FBNQuest Merchant Bank is a beneficiary of this and we are pleased to welcome them.”
Speaking on the transaction, Managing Director/CEO, Kayode Akinkugbe explained that the listing of the FBNQuest’s debut MB Funding SPV PLC Bond on The Nigerian Stock Exchange.
The success recorded, he explained, “attests to the degree of confidence investors have in the business.
“As a full-service investment bank and asset manager, we advised on the bond issuance and structure, and also leveraged our extensive distribution capability to ensure the success of the transaction,” he added.
FBNQuest Merchant Bank is the second organization honoured with a digital closing gong following the maiden edition earlier held in April with Sterling Bank. The NSE digital closing gong ceremony attests to the resilience of the NSE’s technology platforms which have supported Dealing Members in trading remotely without incident via electronic platforms, i.e., FIX Protocol, X-NET, and the newly implemented Virtual Private Network (VPN).
Over the past weeks, the NSE has listed Flour Mills’ N12.5bn three-year and N7.5bn five-year Bonds; Primero BRT Securitisation SPV Plc Bond worth N16.5bn; and several Government Bonds worth over N160bn.