FCMB Lists N20.69 Billion Bond On The FMDQ Exchange Platform

Article Abstract

• FCMB has permitted the itemizing of the FCMB Group Plc N20.69 billion Sequence 1 Fastened Price Resettable NC5.25 Further Tier 1 Subordinated Bond below its N300.00 billion Debt Issuance Programme on its platform
• The bond might be utilized by the Issuer to buy Intercompany Notes to be issued by First Metropolis Monument Financial institution Restricted.
• The FCMB Group bond is sponsored by Chapel Hill Denham Advisory Restricted (Lead Sponsor) and FCMB Capital Markets Restricted (Co-Sponsor).

FMDQ Securities Trade Restricted (FMDQ) has admitted FCMB Group Plc N20.69 billion Sequence 1 Fastened Price Resettable NC5.25 Further Tier 1 Subordinated Bond below its N300.00 billion Debt Issuance Programme.

That is contained in a press release from FMDQ and made out there to Nairametrics.

The FCMB Group bond is sponsored by Chapel Hill Denham Advisory Restricted (Lead Sponsor) and FCMB Capital Markets Restricted (Co-Sponsor) – each Registration Members (Listings) of FMDQ Trade.

Intercompany Notes

The bond might be utilized by the Issuer to buy Intercompany Notes to be issued by First Metropolis Monument Financial institution Restricted, for functions of the Financial institution financing incremental time period lending in focus sectors and shoring up the Financial institution’s regulatory capital base.

The Group Chief Government, of FCMB Group PLC, Mr. Ladi Balogun, acknowledged:

• “FCMB Group is grateful to our buyers, advisers, and regulators (significantly the Securities and Trade Fee, Nigeria, and the Central Financial institution of Nigeria) for his or her assist on the maiden issuance below our N300.00 billion Programme. 
• The revolutionary construction of a perpetual, income-yielding bond that qualifies as Tier 1 capital – a primary of its variety within the home capital markets – achieves three aims for buyers: it’s non-dilutive for current shareholders; creates capability for improved earnings and dividends per share; and supplies a sexy earnings stream to buyers.
• We’re additionally happy to assist our largest banking subsidiary in the direction of the attainment of its development, danger administration, and strategic aims with this funding.”

The Lead Sponsor of the bond on the Trade, Chapel Hill Denham Advisory Restricted, by its Managing Director, Mr. Lanre Buluro, stated:

• “Chapel Hill Denham Advisory Restricted is happy to have acted as Monetary Adviser to FCMB Group Plc on the issuance of the N20.69 billion Perpetual Fastened Price Resettable NC5.25 Further Tier 1 Subordinated Bond.
• This novel transaction construction supplies a singular alternative for banks and different home capital market contributors to entry financing from the investing public with extra beneficial phrases and situations than a standard bond issuance whereas assembly buyers’ return necessities. Consequently, we want to thank FCMB Group PLC, the monetary and capital market regulators, and the investor group for his or her assist in making certain the profitable capital increase.”

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