The Board Listings, Market and Technology Committee of FMDQ has ratified the admission of Parthian Partners Limited’s commercial paper worth N20 billion into the FMDQ Exchange platform.

This is according to a verified tweet by FMDQ Exchange, which reads; “FMDQExchange is pleased to announce the approval for the registration of the Parthian Partners Limited ₦20.00 billion Commercial Paper Programme on its Platform.’’

Prior to the recent admission, Nairametrics had earlier reported that a total of six (6) commercial papers valued at N22.29 billion have been admitted to FMDQ platform since the beginning of this year, with the latest being the admission of Coronation Merchant Bank’s CP series worth N3.63 billion.

Recall that since 2014, FMDQ Exchange has continued to champion the reform of Commercial Papers market, in collaboration with the CBN and through the deployment of key initiatives and strategies, part of which made it possible for the Exchange to cross the N1 trillion mark in 2018.

What this means

• Nairametrics understands that Parthian Partners Limited, just like other issuers quoted on the FMDQ Exchange, will enjoy some value-driven services such as; gaining access to a wide range of knowledgeable and capitalised investors, enhanced liquidity among others.
• The Commercial Papers will enable Parthian Partners Limited plug its capital shortfalls and meet up with its short-term liquidity, sustaining its business through the process.

What you should know

• It is pertinent to note that Commercial Papers quoted on FMDQ’s platform are quoted on FMDQ and traded on the FMDQ-Bloomberg E-Bond Trading and Surveillance System
• FMDQ Debt Market size as at close of business on 23rd of February, 2021 currently stands at N23.07 trillion.

FMDQ Securities Exchange Limited has announced the admission of Coronation Merchant Bank Commercial Papers worth a combined total of N3.63 billion on its platform.

According to a disclosure by FMDQ Exchange, the admitted CPs are; a N1.29 billion Series 11 and N2.34 billion series 12 commercial papers, which are part of a N100 billion CP issuance programme ecosystem.

As part of the regulatory requirements, the admission of the aforementioned CPs is sequel to approval by the Board Listings, Markets and Technology Committee of FMDQ.

READ: DEAL: Total Nigeria Plc issues Commercial Paper worth N30 billion

The need to raise short–term capital through the CP issuance became imperative due to the impact of the pandemic on the income of most businesses.

What this means: The quotation is most likely to serve as liquidity buffers to Coronation Merchant Bank, providing short-term funds through alternative financing options, to plug capital shortfalls and sustain its business activities.

READ: FMDQ approves UACN and Flour Mills’ listing of N20.50bn commercial papers

What you should know

• Nairametrics had earlier reported the admission of Total Nigeria Plc, Mixta Real Estate and Valency Agro Nigeria Limited Commercial Papers on the FMDQ Securities Exchange platform.
• FMDQ Securities Exchange Limited has so far announced the admission of six (6) Commercial Papers valued at N22.29 billion in 2021.
• By the virtue of its admission to the FMDQ platform, the recent CP will enjoy value-driven services such as global visibility, liquidity credible price formation and continuous information disclosure.
• Coronation Merchant Bank Limited provides merchant banking services, such as; assets/fund management services, securities trading, treasury services etc., to corporate institutions, institutional investors and high net worth individuals.