- FMDQ Lists Nigeria Infrastructure Debt Fund, Others
Having successfully obtained the Securities and Exchange Commission’s approval, Chapel Hill Denham Management Limited has registered and established the Nigeria Infrastructure Debt Fund 200bn issuance programme.
It has subsequently issued the first series under this programme – Series I 49,450,000 units of 101.20 each.
The NIDF was granted approval on July 14, 201, by the FMDQ Board Listings, Markets and Technology Committee, to be listed on the platform of the FMDQ OTC Securities Exchange.
Globally, infrastructure contributes to economic development by increasing productivity and providing amenities, which enhance quality of life and business activities, according to the FMDQ.
The debt capital markets would provide a key avenue through which infrastructural growth could be sustained to promote economic development, and Nigeria, it noted, was beginning to take a cue from model markets like the United States, United Kingdom and Malaysia. It said those markets used the strength of their DCM to power growth, fund and set up viable infrastructure projects to support development for the good of their citizenry.
“The Chapel Hill Denham Nigeria Infrastructure Debt Fund is the latest in these laudable initiatives that are paving the way for the development of Nigeria’s infrastructure sector via the Nigerian DCM,” it added.