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FMDQ Admits Mixta Real Estate Plc’s N960m Commercial Paper

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Mortgage - Investors King

FMDQ Securities Exchange Limited has approved the quotation of the N960 million Series 35 Mixta Real Estate Plc Commercial Paper (CP) under its N20 billion CP Issuance Programme on its platform.

The proceeds from this CP quotation will be used to finance Mixta Real Estate Plc’s short-term funding requirements.

Mixta Real Estate Plc, a subsidiary of Mixta Africa, is a real estate development company in Nigeria, with a strong track record and diverse real estate portfolio, and operations spanning the residential, commercial, and retail sectors of the Nigerian real estate industry.

It has successfully developed well over 5,000 properties spanning across affordable homes, luxury residences, and commercial projects, and continues to seek innovative solutions to activate development finance for affordable housing in Nigeria.

According to FMDQ, the quotation of the Mixta Real Estate Plc’s CP was a further testament to the exchange’s leadership and resilience in providing the required support to businesses, corporates and government entities through the delivery of innovative and value-adding capital market solutions.

“As part of efforts towards unlocking the potential of the Nigerian economy, FMDQ Exchange shall continue to support institutional growth and stimulate continuous development of the economy at large, through the provision of a world-class quotations service, in line with its mandate,” the exchange said.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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$4 Billion Eurobond to Deepen External Reserves, Build Confidence in Medium-term – Ecobank CEO

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Eurobonds - Investorsking

The Cheif Executive Officer and Managing Director of Ecobnak Nigeria, Patrick Akinwuntan, has said the recent $4 billion Eurobond issued by the Federal Government of Nigeria will deepen external reserves and allows more confidence in the medium-term planning in the private sector.

Akinwuntan, who was assessing the global market as Nigeria announced its multibillion dollar Eurobond offering, during an interview on Arise TV in Lagos, said such loans would give a fresh breath to the economy because when the country takes on Euro bond that portion is reduced from its financing or public sector debt.

He advised those approaching the international debt market to have clarity of purpose and state their strengths and weaknesses.

Akinwuntan said the economy is showing strong trends owing to investments in infrastructure such as road and rail transportation, which is giving a lot of positive impact to the economy, adding that the private sector is also making improvements in power sector, telecoms, and information technology.

He said: “In the last two quarters, we have seen the global market rebounding from the very deep end of the COVID-19 that plagued 2020. We have seen, since the arrival of vaccines, the gradual opening of the global economy such that there is much more optimism in the market because we have learnt that shutting down the economy is not the best way to handle an epidemic and we have seen support from sovereigns, ensuring that there is steady growth within the various economies; supply chain has opened and we have seen in sub-Sahara Africa renewed interest in the Eurobond market in the international debt market. We have seen Benin republic, Ghana, Cote d’ivoire and Kenya all are approaching the market with significant success.

“Over subscription in each of them ranges from 200 per cent to 300 per cent and an all-high in Kenya close to 600 per cent or six times over subscription. This is a positive period for major economies like Nigeria, which is the lead economy in Africa, to take advantage and invite the global community to hear our story, invest in us and get good returns.”

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MTN Nigeria to Raise N89.9 Billion Via Bond Issuance

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MTN Nigeria - Investors King

MTN Nigeria Communications Plc (MTN Nigeria) has announced plancs to raise another N89.999 billion through bond issuance under its N200 billion registered shelf programme.

The telecommunications giant stated in a note to the Nigerian Exchange Limited and investing public.

MTN Nigeria said “an application has been submitted to the Securities and Exchange Commission (SEC) for the clearance of transaction documents for MTN Nigeria’s proposed bond issuance valued at N89,999,000,000; Series 2 of the N200,000,000,000 registered shelf programme.”

The telecom company had successfully raised N110,001,000,000 through Series 1 bond in the month of May 2021.

However, it said the final decision on the launch of the Series 2 bond will be taken once all regulatory approvals are obtained, and the investing public will be duly notified.

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Bonds

Access Bank to Issue Another Tier 1 Eurobond

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Herbert Wigwe - Investors King

Access Bank Plc, a Nigerian leading commercial bank with operations in 11 African nations, on Friday announced plans to issue an additional Basel III-based perpetual Non-Call 5.25-year benchmark USD-denominated Regulation S/144A Tier 1 bond under the lender’s $1.5 million Global Medium-Term Note Programme.

To ensure success of the Eurobond, Access Bank appointed Citi, J.P. Morgan, Renaissance Capital and Mashreqbank as Joint Bookrunners while Chapel Hill Denham and Coronation Merchant Bank were were appointed as Financial Advisers and Join Bookrunners to arrange a global invetsors call on September 27, 2021 at 2 PM UKT/9 AM NYT.

It would be recalled that Access Bank successfully offered $500 million Senior Unsecured Eurobond under its Global Medium-Term Note Programme on September 13, 2021 and received $1.6 billion bids from global investors. The largest orderbook by a Nigerian bank Eurobond transaction.

Despite tough operating environment and COVID-19 distruption, Access Bank has proven to be one of the most successful banks in Nigeria. The lender grew profit after tax by 42.43 percent in the first half of 2021 to N86.9 billion and paid an interim dividend of N10.6 billion to shareholders.

One of the reasons both local and foreign investors have continue to believe in the growing bank.

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