UPDC, Nigerian Breweries quote ₦10bn Commercial Papers on the FMDQ platform

FMDQ OTC Securities Exchange (FMDQ) as quoted UACN Property Development Company Plc’s ₦7,284,198,000.00 Series 4-11 Commercial Paper (CP) Notes under its ₦24.00bn CP Programme; and the Nigerian Breweries Plc’s ₦2,223,708,000.00 Series 10 CP Notes under its ₦100.00 billion CP Programme on its platform.
In support of the growth of the Nigerian economy, FMDQ championed the resuscitation of the CP market to provide corporate and commercial businesses the opportunity to meet their short-term funding requirements, whilst building their profiles in the Nigerian debt capital market space.
The time to market of the securities, according to FMDQ, lays credence to the efficiency of the FMDQ quotation process and brings the count of CPs admitted onto the FMDQ platform for quarter 1 2017 to 15.
“As with securities quoted on FMDQ, these CPs will be availed global visibility and governance by the promotion of credibility and transparency of information, as part of the value-add provided by the FMDQ Listings and Quotations Service.
“FMDQ remains positive about the possibilities of the Nigerian debt capital market, and will continue to articulate, with the support of its key stakeholders, ways to improve and make the Nigerian markets globally competitive, operationally excellent, liquid and diverse, in line with its mission to empower the financial markets to be innovative and credible, in support of the Nigerian economy”.