Proshare - Facebook Proshare - Twitter Proshare - Google+ Proshare - Linked In Proshare - RSS Feed

Wema Funding SPV Bond Lists on the FMDQ OTC Exchange

Bonds
2010 VIEWS
Proshare - Facebook Proshare - Twitter Proshare - Google+ Proshare - Linked In
Proshare

Wednesday, December 14, 2016 8:53 AM /FMDQ

Coming shortly on the heels of the listing of the Sterling Investment Management SPV PLC Bond and the pioneer memorandum money market fund, the Greenwich Plus Money Market Fund, the Board Listings, Markets and Technology Committee of FMDQ OTC Securities Exchange (“FMDQ or the Exchange”), has approved the listing of the Wema Funding SPV PLC N6,295,000,000.00 Series 1 7-year 18.50% Fixed Rate Unsecured Bond (“Wema SPV Bond”) on FMDQ. This will make the 12th security the OTC Exchange has welcomed on its platform in 2016.


By streamlining the Listings & Quotations Service, with what has been labelled a “phenomenal and unrivalled” turnaround time for all applications received on its platform, and without any compromise to its quality of oversight and due diligence, FMDQ provides a highly recommended and efficient platform for the registration, listing, quotation and valuation of debt securities; laying credence to the dream and objective underlying the OTC Exchange’s establishment three (3) years ago.

The listing of the Wema SPV Bond, within an exceptional approval process time, is another testament and validation of the efficiency and value-add provided by the FMDQ Listings & Quotations Service, specifically, and the OTC Exchange as a whole. The Wema SPV Bond, having taken its rightful place on the FMDQ Bond Listings Wall of Fame, has joined a host of other securities to make history on FMDQ’s unique platform.

Conscious of its crucial role in the Nigerian debt capital market (DCM), FMDQ is increasingly matching the efficiency of its processes, the FMDQ Listings & Quotations Service being one of these, to those obtainable in the international markets. From improved market credibility, continuous information disclosure, to enhanced secondary market liquidity, and effective price formation, FMDQ continues to lay the foundation for sustainable and efficient financing in the Nigerian DCM, offering benefits which enable issuers to build a strong corporate image in the capital market.

Through its product and market development initiatives, the OTC Exchange, with the concerted efforts of its key stakeholders, continues to fulfil its mandate of revolutionalising the Nigerian financial markets; having successfully positioned its operations, through its streamlined and timely processes, towards deepening the DCM, with an audacious goal of upgrading the standards of the Nigerian financial market to global levels in the near future. Not resting on its laurels, the highly innovative OTC Exchange, whose core mandate is to drive market development and governance, with a view to boosting the integrity and credibility of the Nigerian fixed income, currency and derivatives markets, is set to commence shortly, the listing of Short-Term Bonds and the quotation of Private Companies’ Bonds.

Related NEWS
1.       FMDQ Launches the Debt Capital Market Development Project
2.      FMDQ Admits ₦7.96bn Sterling Investment Management SPV PLC Bond
3.      Pioneer Memorandum Money Market Fund Listing on FMDQ
4.      FMDQ Launches a Financial Market Education Initiative - The FMDQ Academy
5.     FMDQ OTC Securities Exchange Revises the Methodology for the Daily Market Spot FX Closing Rate

Related News