November 15, 2019 / 9:42 AM / By FMDQ / Header Image Credit: FMDQ
FMDQ Securities Exchange PLC ("FMDQ Exchange" or "the Exchange"), the choice platform for the registration, listing, quotation, trading and recording of financial securities, is pleased to announce the admission for listing on its platform, the Primero BRT Securitisation SPV PLC N16,500,000,000 Series 1 Fixed Rate Bond (the Primero BRT Bond).
This bond listing is in line with the Exchange's mandate of providing a reliable and credible avenue for corporate and governments, amongst others, to raise capital and by so doing, foster the deepening of the markets and ultimately, the economic development of the nation. Like other debt securities listed on FMDQ Exchange, the Primero Bond shall be availed global visibility through the FMDQ Exchange website and systems, governance and continuous information disclosure to protect investor interest, credible price formation amongst other benefits derived from being an FMDQ Exchange listing.
Primero BRT Securitisation SPV PLC, a special purpose vehicle, was set up by Primero Transport Services Limited, a private limited liability company that provides public transportation service to residents of Lagos State, to raise finance to support its operation through the issuance of debt securities. The net proceeds of the Primero Bond will be utilised for funding the operating assets of the Bus Rapid Transit System, amongst others.
As this institution and a host of others continue to effectively and sustainably meet their funding needs, as well as contribute to the development of the nation's capital markets through FMDQ Exchange's platform, the Exchange will continue to take crucial steps, in collaboration with market stakeholders, to deliver on its agenda of making the Nigerian financial markets globally competitive. A formal ceremony to commemorate this listing shall be announced in due course.