Feyisayo PopoolaFMDQ OTC Securities Exchange has admitted a N32.90bn bond from Sterling Investment Management SPV Plc. The FMDQ, in its monthly newsletter, said its Board Listings, Markets and Technology Committee granted the approval of Sterling Investment’s N32.90bn Series 2 fixed rate unsecured bond under a N65bn debt issuance programme on its platform at a rate of 16.25 per cent. It said, “By listing its bond on FMDQ, Sterling Investment Management SPV Plc enjoys exceptional benefits, which include but are not limited to enhanced investor confidence in the issuer, transparent/relevant information disclosure on the issue, effective price formation and global visibility. The contract, which stopped trading on January 22, was valued for settlement against the Nigerian Autonomous Foreign Exchange Fixing. The FMDQ said the associated clearing/settlement activities were effected accordingly.

Source: Punch February 03, 2019 23:15 UTC