FMDQ Exchange, the leading organizer for the Nigerian debt capital market, has announced the listing of Mixta Real Estate PLC’s N2.07 billion Series 42, N0.99 billion Series 43, and N4.66 billion Series 44 CPs under its N20.00 billion Commercial Paper (CP) Issuance Programme.
In the disclosure, the FMDQ stated that “In a continuous bid to demonstrate its commitment to the development of the Nigerian capital markets, FMDQ Securities Exchange Limited (“FMDQ Exchange” or “the Exchange”), through its Board Listings and Markets Committee, approved the quotation of the Mixta Real Estate PLC N2.07 billion Series 42, N0.99 billion Series 43, and N4.66 billion Series 44 CPs under its N20.00 billion CP Issuance Programme on its platform.”
The Mixta Real Estate CPs, which are sponsored on the Exchange by FBNQuest Merchant Bank, a Registration Member, would be used to finance the issuer’s short-term funding requirements. The issuer will also benefit from FMDQ Exchange’s diversified investor base, its highly responsive and efficient listing and quotation processes and credible benchmark pricing required for appropriate portfolio valuation, amongst others.
Mixta Real Estate PLC is a subsidiary of Mixta Africa, an ARM company, which specializes in the development of urban infrastructure and affordable housing. The company is a leading real estate development company with the objective of responding to the existing housing deficit across the African continent. The company has a strong track record, diverse real estate portfolio, and operations spanning the residential, commercial and retail sectors of the Nigerian real estate industry.
The company was founded in 2005 and touts developing more than 12,500 residential and retail units around Africa. The company is currently present in 8 countries across Africa with full operations in 5 which includes Nigeria, Senegal, Côte d’Ivoire, Morocco, and Tunisia and projects in 3 which includes Mauritania, Algeria and Egypt.
The Nigerian commercial paper (CP) market continues to demonstrate resilience and consistency in providing a platform to corporates across diverse sectors by offering a viable platform for institutions to raise finance to fund their capital requirements.
good one