FMDQ Securities Exchange (FMDQ Exchange) has announced the listing of the Dangote Industries Funding Plc’s N187.58 billion Series 1 (Tranche A & B) and N112.42 billion Series 2 Senior Unsecured Bonds under the firm’s N300 billion Debt Issuance Programme on its platform.
“The phenomenal success of this transaction reflects the strong credit quality of the issuer as well as the depth and resilience of the Nigerian domestic markets, despite the global market volatility,” she added.
Meanwhile, Flour Mills of Nigeria (FMN) Plc also quoted N64.97 billion Commercial Paper (CP) on the FMDQ platform to boost its working capital.
The securities exchange, while announcing the listing of FMN Plc’s N13.33 billion Series 1 and N51.64 billion Series 2 CP under its N200 billion CP Issuance Programme on its platform, stated that the proceeds will be deployed to support the firm’s short-term funding requirements.
Group Chief Financial Officer, Flour Mills of Nigeria Plc, Anders Kristiansson, said the joint quotation is aimed at harnessing alternative funding sources to meet its working and other capital requirements.
He added that the firm seeks to deepen strategic and growth-consolidating investments across value chains to enable it to unlock capabilities that would help deliver greater value for stakeholders.