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Coronation Merchant Bank lists N25 billion bond on NGX

Coronation Merchant Bank Funding SPV Plc has listed its Twenty-Five Billion Naira (N25Bn) Bond on Nigerian Exchange (NGX) Limited on Wednesday, 30 June 2021. The 5-year 6.25% Series one (1) Fixed Rate Subordinated Unsecured Bonds due 2025 is under Coronation Mb Funding SPV Plc’s One Hundred Billion Naira (N100Bn) bond issuance program.

With this issuance, NGX has supported Federal Government and corporates to raise over N4.7Trillion from the capital market via the fixed income segment in the first half of 2021. Issuers continue to express excitement and satisfaction over the ability to access capital from the market and list the securities on NGX to provide liquidity for investors, despite the prevailing weak macroeconomic conditions.

NGX on its part has expressed and proven its commitment to providing issuers with a platform that allows them to raise capital to meet strategic business objectives even in the most difficult times. “It is the Exchange’s delight to see issuers take full advantage of our products and services to support their growth story,” the Divisional Head, Listings Business, NGX, Mr. Olumide Bolumole had previously stated.

Some of the issuers that have listed on NGX in first half of 2021 include; NOVAMBL Investments SPV Plc, Federal Government of Nigeria, Mecure Industries Funding SPV Plc, CardinalStone Financing SPV Plc, Fidelity Bank Plc, FBNQuest Merchant Bank SPV Funding Plc, BUA Cement Plc, Etranzact International Plc, Kogi State Government, TSL SPV Plc, Lagos State Government and Flour Mills of Nigeria Plc.

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