New Telegraph

February 23, 2024

FSDH Funding SPV lists Series 1 bond on FMDQ

FMDQ Securities Exchange Limited (FMDQ) has announced the approval by the Board Listings and Markets Committee of the listing of the FSDH Funding SPV Plc N7.05 billion Tranche A and N4.95 billion Tranche B Series 1 Fixed Rate Bonds under its N30.00 billion Debt Issuance Programme on its platform. FSDH Funding SPV Plc is a special purpose vehicle set up to raise capital from the Nigerian debt capital market for FSDH Merchant Bank Limited. Speaking on the successful issuance of the bonds, the Director, FSDH Funding SPV PLC, Mr. Adekunle Awojobi, stated: “We are pleased about the successful N12.00 billion capital-raise under the FSDH Funding SPV PLC’s N30.00 billion Debt Issuance Programme. The bond issue is the first series under the programme and comprises of two Tranches (Tranche A & B) of subordinated and senior bond notes, each with a five-year tenure.

The listing of the bonds on FMDQ’s platform will help provide visibility and enhance the liquidity of the bonds. “The net proceeds of the bond issue will be used to fund the growth of risk assets of the Sponsor, FSDH Merchant Bank Limited. A portion of the bond issuance will serve the dual purpose of shoring up the Bank’s Tier 2 capital, in line with its Internal Capital Adequacy Assessment Process.

“We would like to thank and commend Union Capital Markets Limited for facilitating the listing of the bonds on FMDQ Exchange and the issuing houses, Stanbic IBTC Capital Limited, FSDH Capital Limited, Rand Merchant Bank Nigeria Limited, and United Capital PLC for their support in ensuring the successful capital raise.” Also, theDirector, UnionCapitalMarketsLimited (theSponsor of theBond ontheExchangeand aRegistrationMemberListings of FMDQ Exchange), Mr. Egie Akpata, commented: “We are delightedatthesuccessfullistingof theN12.00billionFSDH Funding SPVPLCSeries1(TrancheA& Tranche B) bonds on FMDQ Exchange.

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