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FMDQ admits C&I Leasing’s N7bn secured bond

FMDQ admits C&I Leasing’s N7bn secured bond

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Feyisayo Popoola

The Board Listings, Markets and Technology Committee of FMDQ has granted approval to C & I Leasing Plc’s N7bn five-year 16.54 per cent series 1 fixed rate senior secured bond on its platform.

The FMDQ, in its August 2018 newsletter, said the secured bond was admitted under a N20bn debt issuance programme on its platform.

It said in streamlining the efficiency of its processes and delivering value to both corporate and commercial businesses desirous of accessing the debt capital markets, it had continued to avail its credible platform as well

as tailor its listings, quotations and notings services to suit the needs of issuers.

The FMDQ said the proceeds from the C & I Leasing bond would largely be used to boost C & I Leasing’s business expansion exercise and to restructure the company’s debts over a period of five years.

It added that by listing its bond on FMDQ, C & I Leasing would enjoy exceptional benefits such as enhanced investor confidence in the issuer, transparent/relevant information disclosure on the issue, effective price formation and global visibility.

According to the newsletter, a formal listing ceremony is being planned

to commemorate the listing of the C & I Leasing Bond on FMDQ, in honour of the issuer, C & I Leasing.

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