Bond Markets

NMRC to list N8bn bond on FMDQ OTC platform

by Iheanyi Nwachukwu

September 29, 2015 | 6:10 am
  |     |     |   Start Conversation

Bond-marketThe Nigeria Mortgage Refinance Company (NMRC) will on Wednesday list its N8 billion bond on the platform of FMDQ OTC securities exchange.

The bond is 14.9 percent NMRC 29-July-2030 series-1 under a N140 billion Medium-Term Note Programme.

The establishment of the NMRC in 2013 set in motion the course towards homeownership from accessibility to affordable, adequate and quality housing in the Nigerian economy, through the promotion and development of the primary and secondary mortgage markets in Nigeria.

Analysts say a crucial aspect in the achievement of the NMRC model is the raising of finance from the debt capital market through regular and large issuances of bonds.

As is the tradition with FMDQ, a listing ceremony will be held to commemorate this milestone where among others, the issuer, represented by the CEO of NMRC, the issuing house, represented by the MD of Dunn Loren Merrifield Advisory Partners, as well as the former coordinating minister of the economy, being one of the foundational members of the NMRC initiative, are expected.

by Iheanyi Nwachukwu

September 29, 2015 | 6:10 am
  |     |     |   Start Conversation

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