Business Capital Market

FMDQ admits Forte Oil N9bn as first 2017 corporate bond


Forte Oil Plc has once again made history in addition to its reputation as the first early filer of yearly audited results to the Nigerian Stock Exchange (NSE) by emerging first corporate bond to list on FMDQ in 2017.

Coming shortly after the recent quotation of the Dufil Prima Foods commercial paper notes is the admittance for the listing of the ₦9.00 billion Forte Oil PLC Bond (Series 1 under a ₦50.00bn Medium-Term Bond Programme) on FMDQ OTC Securities Exchange (‘FMDQ’ or ‘the OTC Exchange’).

The admittance of the Forte Oil Bond for listing on the OTC Exchange was granted by the FMDQ Board Listings, Markets, and Technology Committee, and will be followed by a listing ceremony at the OTC Exchange in the coming weeks to commemorate the achievement.

FMDQ revealed that the listing, the first corporate debt listing in 2017, attests to the largely untapped potential of the Nigerian debt capital market.

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Ihesiulo Grace

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