{"id":46352,"date":"2021-01-27T13:14:56","date_gmt":"2021-01-27T12:14:56","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=46352"},"modified":"2021-01-27T13:14:56","modified_gmt":"2021-01-27T12:14:56","slug":"flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/","title":{"rendered":"Flour Mills Of Nigeria PLC Joins Other Corporates To Float Bond On FMDQ Exchange Platform In 2021"},"content":{"rendered":"

Coming shortly on the heels of the recent Commercial Paper (\u201cCP\u201d) Issuances by Total Nigeria PLC, Valency Agro Nig. Ltd. and Mixta Real Estate PLC, FMDQ Securities Exchange Limited (\u201cFMDQ Exchange\u201d or \u201cthe Exchange\u201d), following the due diligence of its Board Listings and Markets Committee has approved the Listing of the Flour Mills of Nigeria PLC (\u201cFMN\u201d or \u201cFlour Mills\u201d) \u20a64.89 billion Series 4 Tranche A and \u20a625.00 billion Series 4 Tranche B Fixed Rate Bonds under its\u00a0\u20a670.00 billion Bond Issuance Programme\u00a0on its platform.<\/p>\n

\"\"<\/p>\n

The Nigerian economic landscape and business environment has continued to witness disruptions as occasioned by the COVID-19 pandemic with attendant concerns of a prevailing second wave despite global vaccination efforts and restrictive guidelines put in place by governments and advisory bodies. The situation has seen corporates across multiple sectors re-evaluate their financing strategies going into the new year by tapping the debt capital markets as a viable avenue to efficiently raise capital in order to meet their business expansion\/working capital needs. The critical role which debt markets play in facilitating sustainable growth and development cannot be overemphasized. The Nigeria debt capital market (DCM) plays an important role in the efficient mobilisation and allocation of resources in the economy and despite the impact of the current times, the market has continued to effectively support corporates looking to expand their business operations. It is in this regard that FMDQ Holdings PLC (\u201cFMDQ Group\u201d or \u201cFMDQ\u201d) in its capacity as a leading market organiser of the Nigerian DCM, amongst others, has continued to provide stakeholders in the Nigerian capital market with a credible and robust platform for capital access, risk management and transfer of value.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

As major effects of the pandemic, Nigeria has witnessed rapid inflation characterised by dwindling food security and reduced labour market participation. Flour Mills is strategically positioned to produce and supply products of superior quality and value to the market, thereby, enriching the lives of consumers, customers, communities, employees, and all stakeholders. According to Mr. Omoboyede Olusanya, Group Managing Director\/Chief Executive Officer, Flour Mills of Nigeria Plc,\u00a0<\/b>\u201cFlour Mills of Nigeria Plc is delighted to have successfully concluded the issuance of\u00a0<\/a>\u20a629.89 billion Series 4 (Tranche A & B) bonds under the \u20a670.00 billion bond issuance programme. The Bond, which coincided with our 60th anniversary celebration was strongly supported by the institutional investor community and corroborates our strategic objective of sustaining our market leadership position whilst backwardly integrating to increase the use of locally sourced materials to develop and produce unique consumer products in alignment with our mission of \u201cFeeding the Nation, Everyday\u201d. The proceeds of both bonds have been used entirely to refinance our existing commercial paper notes also successfully issued during the pandemic.\u201d Also commenting on the listing, Abimbola Kasim, Ag Managing Director, FCMB Capital Markets Limited, stated \u201cFCMB Capital Markets appreciates the opportunity given to us by the Board and Management of Flour Mills of Nigeria to act as the Lead Issuing House on its \u20a629.89 billion Series 4 Bond Issuance, being the final and largest Series under the \u20a670 billion Bond Issuance Programme registered in 2018.\u200b The success of this transaction speaks to Flour Mills\u2019 impressive operational and financial performance, and an affirmation of this strength by investors in the bond who subscribed overwhelmingly during a low interest rate environment. Following this success, we expect Flour Mills and our other clients to continue to explore opportunities to raise funds from the Nigerian debt capital markets to diversify their funding sources.\u201d<\/p>\n

As the economic impact of COVID-19 continues to crystallise and business organisations strive to rise above the \u2018murky waters\u2019, FMDQ Group remains steadfast in contributing towards the emergence of a resilient financial market in Nigeria. As with previous bonds issued under the programme and with all other securities listed, quoted, and traded on the FMDQ Exchange platform, the Flour Mills bonds shall be availed total market visibility through FMDQ Exchange\u2019s website and systems; transparency through their inclusion in the FMDQ Daily Quotations List; governance and continuous information disclosure to protect investor interest; amongst other benefits derived from the preferred admission to FMDQ Exchange.<\/p>\n","protected":false},"excerpt":{"rendered":"

Coming shortly on the heels of the recent Commercial Paper (\u201cCP\u201d) Issuances by Total Nigeria PLC, Valency Agro Nig. Ltd. and Mixta Real Estate PLC, FMDQ Securities Exchange Limited (\u201cFMDQ Exchange\u201d or \u201cthe Exchange\u201d), following the due diligence of its Board Listings and Markets Committee has approved the Listing of the Flour Mills of Nigeria PLC (\u201cFMN\u201d or \u201cFlour Mills\u201d) \u20a64.89 billion Series 4 Tranche A and \u20a625.00 billion Series 4 Tranche B Fixed Rate Bonds under its\u00a0\u20a670.00 billion Bond Issuance Programme\u00a0on its platform.<\/p>\n","protected":false},"author":6,"featured_media":32996,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[635],"coauthors":[2391],"class_list":["post-46352","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-flour-mills"],"yoast_head":"\nFlour Mills Of Nigeria PLC Joins Other Corporates To Float Bond On FMDQ Exchange Platform In 2021 - National Wire<\/title>\n<meta name=\"description\" content=\"Coming shortly on the heels of the recent Commercial Paper (\u201cCP\u201d) Issuances by Total Nigeria PLC, Valency Agro Nig. L\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Flour Mills Of Nigeria PLC Joins Other Corporates To Float Bond On FMDQ Exchange Platform In 2021 - National Wire\" \/>\n<meta property=\"og:description\" content=\"Coming shortly on the heels of the recent Commercial Paper (\u201cCP\u201d) Issuances by Total Nigeria PLC, Valency Agro Nig. L\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-27T12:14:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/07\/362ea1d4-flour-mills-of-nigeria.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/07\/362ea1d4-flour-mills-of-nigeria.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/07\/362ea1d4-flour-mills-of-nigeria.jpg\",\"width\":800,\"height\":600},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/\",\"name\":\"Flour Mills Of Nigeria PLC Joins Other Corporates To Float Bond On FMDQ Exchange Platform In 2021 - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/#primaryimage\"},\"datePublished\":\"2021-01-27T12:14:56+00:00\",\"dateModified\":\"2021-01-27T12:14:56+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"description\":\"Coming shortly on the heels of the recent Commercial Paper (\u201cCP\u201d) Issuances by Total Nigeria PLC, Valency Agro Nig. L\",\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Flour Mills Of Nigeria PLC Joins Other Corporates To Float Bond On FMDQ Exchange Platform In 2021\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Flour Mills Of Nigeria PLC Joins Other Corporates To Float Bond On FMDQ Exchange Platform In 2021 - National Wire","description":"Coming shortly on the heels of the recent Commercial Paper (\u201cCP\u201d) Issuances by Total Nigeria PLC, Valency Agro Nig. L","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/","og_locale":"en_US","og_type":"article","og_title":"Flour Mills Of Nigeria PLC Joins Other Corporates To Float Bond On FMDQ Exchange Platform In 2021 - National Wire","og_description":"Coming shortly on the heels of the recent Commercial Paper (\u201cCP\u201d) Issuances by Total Nigeria PLC, Valency Agro Nig. L","og_url":"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/","og_site_name":"National Wire","article_published_time":"2021-01-27T12:14:56+00:00","og_image":[{"width":800,"height":600,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/07\/362ea1d4-flour-mills-of-nigeria.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/07\/362ea1d4-flour-mills-of-nigeria.jpg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/07\/362ea1d4-flour-mills-of-nigeria.jpg","width":800,"height":600},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/","name":"Flour Mills Of Nigeria PLC Joins Other Corporates To Float Bond On FMDQ Exchange Platform In 2021 - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/#primaryimage"},"datePublished":"2021-01-27T12:14:56+00:00","dateModified":"2021-01-27T12:14:56+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"description":"Coming shortly on the heels of the recent Commercial Paper (\u201cCP\u201d) Issuances by Total Nigeria PLC, Valency Agro Nig. L","breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/flour-mills-of-nigeria-plc-joins-other-corporates-to-float-bond-on-fmdq-exchange-platform-in-2021\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"Flour Mills Of Nigeria PLC Joins Other Corporates To Float Bond On FMDQ Exchange Platform In 2021"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/46352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=46352"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/46352\/revisions"}],"predecessor-version":[{"id":46353,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/46352\/revisions\/46353"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/32996"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=46352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=46352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=46352"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=46352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}