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FMDQ Admits N53.2bn Bonds of Fidelity Bank, TSL SPV

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FMDQ

FMDQ Securities Exchange recently approved the listing of the Fidelity Bank Plc Series 1N41.21billion Fixed Rate Subordinated Unsecured Bond under its N100.00billion Bond Issuance Programme to its platform.

FMDQ also announced the approved the listing of the TSL SPV Plc N12.00 billion Series 1 Guaranteed Fixed Rate Infrastructure Bond under its N50.00 billion Bond Issuance Programme. According to the exchange, the significant listing will allow Fidelity Bank Plc fund key activities that would ultimately translate in the development of the Banking sector and the Nigerian economy at large.

Speaking on the development, the Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe, said: “This is a landmark bond issuance. It is by far the largest local bond transaction by any commercial bank in Nigeria, thus validating the continued investor confidence in our well-experienced management team. By registering and listing the bonds on FMDQ Securities Exchange Limited, Fidelity Bank has provided its bondholders a robust and transparent platform that will improve the liquidity and visibility of their investments.”

Commenting on the transaction, the Co-CEO, Planet Capital Limited, Mr. Efe Akhigbe, said “Planet Capital is pleased to sponsor the listing of the Bond, having led and collaborated with a club of investment banking firms that advised on this Transaction.”

On his part, Managing Director/Chief Executive Officer, TSL SPV Plc, Mr. Ayodeji Wright, said: “TSL’s Senior Guaranteed Infrastructure Bonds was conceived a few years ago and I am profoundly grateful to the entirety of the transaction tarties, TSL bond investors, InfraCredit and the regulators, who have made this a reality today. TSL remains committed to delivering its vision of providing bespoke supply chain and logistics solutions within Nigeria, and to sub-Saharan Africa. The unprecedented issuance of the N12 billion, 10 per cent fixed rate, 10-year tenor TSL bonds is a first in Nigeria’s transportation and logistics sector, which will undoubtedly be the springboard to provide the financial reinforcement to our business strategy and strong operating model. Its proceeds will in part be used to stimulate an atmosphere for profitable growth for the business and in part for the improvement of the existing business.”

TSL had set up a special purpose vehicle (SPV) to raise finance through the listing of debt securities which would be used to boost the issuer’s business expansion exercise and to restructure the company’s debts over the specified period. TSL is a leading provider of customised logistics and transportation solutions in Nigeria. The company currently provides regional logistics services to clients in the oil and gas, mining and construction, fast moving consumer goods (FMCG), and agricultural sectors.

Bonds

MTN Nigeria Receives Approval to Raise Another Fund Via a Bond Issuance Programme

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MTN Nigeria said it has received approval from the Nigerian Securities and Exchange Commission (SEC) to raise fund following the successful completion of its Series III and Series IV Commercial Papers of N73,508,254,000.

The telecoms giant said the company will issue a Series I, 7-Year Fixed Rate Bond under a debut N200 billion Bond Issuance Programme (“Bond Issuance Programme”).

It added that the Bond Issuance Programme further reinforces the Company’s strategy of diversifying its funding sources. A final decision on the launch of the Series I Bond will be taken imminently, subject to prevailing market conditions.

The telecommunications company raised a combined N73.508 billion in March to finance working capital and general corporate purposes.

The CP Issuances were undertaken in line with the Company’s strategy to diversify its financing sources. In November 2020, MTN Nigeria obtained the approval of Financial Markets Dealers Quotations (FMDQ) Securities Exchange Plc to increase the Company’s CP programme from N100,000,000,000 to N200,000,000,000; following the very successful inaugura Series I and Series II CP Issuances in June 2020. The Company confirms that the Series I and Series II CP Issuances – of an aggregate value of N100,000,000,000 – have been redeemed,” MTN Nigeria stated in a statement signed by Uto Ukpanah, Company Secretary, MTN Nigeria.

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FG Lists Supplementary FGN Bonds (March 2021) on NSE Last Week

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Federal Government listed additional units of the Federal Government of Nigeria (FGN) Bonds issued in March 2021 on the Nigerian Stock Exchange (NSE) on Wednesday, 31 March 2021.

44,012,718 additional units of FGN at 16.2884 percent with March 2027 maturity were listed while another additional units of 86,291,852 FGN Bonds were issued at 12.5 percent with March 2035 maturity.

Finally, the FG listed 131,796,220 FGN Bonds at 9.80 percent with July 2024 maturity.

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Bonds

FG Lists Two (2) FGN Savings Bonds Issued in March 2021 on NSE

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The Federal Government of Nigeria listed two Federal Government of Nigeria (FGN) Savings Bonds on the Nigerian Stock Exchange (NSE) on March 24, 2020, according to the Exchange.

Therefore, dealing members are hereby notified that “the March 2021 Issue of the Federal Government of Nigeria (FGN) Savings Bonds were listed on The Nigerian Stock Exchange today, 24 March 2021,” the bourse stated.

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