FMDQ endorses Rand Merchant Bank’s N80bn CP programme
The FMDQ OTC Securities Exchange has approved for registration in its platform, the commercial paper programme to be raised in future, of Rand Merchant bank Limited valued at N80 billion.
The Rand merchant bank CP Programme registration on FMDQ platform, purposefully positions Rand Merchant Bank to easily raise short-term finance from the debt market at a time in the future it determines suitable, through CP issues, within the CP Programme limit.
In addition to the commendable and considerably efficient registration process, the quotation, on FMDQ, of the future CP issues from the registered Rand Merchant Bank CP Programme, will provide stakeholders with continuous provision of invaluable information as part of the OTC Exchange’s commitment to organise govern and enforce transparency in the fixed income market space.
The approval to list the commercial paper programme by the OTC Exchange reflects sustenance of the FMDQ’s support for the development of the Nigerian debt capital markets.
This ensures that the OTC’s platform is made available for the registration, listing, quotation and trading of debt instruments.
The FMDQ OTC Exchange is continually, serving to further boost confidence in the possibilities of the Nigerian financial market.
In line with its strategic objectives to support institutional growth and stimulate the continuous development of the economy at large, FMDQ has shown its steadfastness in realising these objectives through the promotion of product innovation and the championing of key market development initiatives, in order to ensure that opportunities abound for the markets under its purview.
