{"id":46359,"date":"2021-01-27T22:56:14","date_gmt":"2021-01-27T21:56:14","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=46359"},"modified":"2021-01-27T22:57:47","modified_gmt":"2021-01-27T21:57:47","slug":"nigeria-mortgage-refinance-company-plc-lists-%e2%82%a610-00-billion-fixed-rate-bond-on-fmdq-exchange","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/nigeria-mortgage-refinance-company-plc-lists-%e2%82%a610-00-billion-fixed-rate-bond-on-fmdq-exchange\/","title":{"rendered":"Nigeria Mortgage Refinance Company Plc Lists \u20a610.00 Billion Fixed Rate Bond On FMDQ Exchange"},"content":{"rendered":"
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 Nigerian Mortgage Refinance Company PLC (\u201cNMRC\u201d) Series 3 \u20a610.00 billion Fixed Rate Bond under its \u20a6440.00 billion Bond Issuance Programme on its platform.<\/div>\n
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The listing joins a host of other corporate securities issued on the FMDQ Exchange Platform to kick off the year 2021 in addition to Total Nigeria PLC, Valency Agro Nig. Ltd., Mixta Real Estate PLC and Flour Mills of Nigeria PLC.<\/div>\n
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In view of the sustained disruptions occasioned by the impact of the COVID-19 pandemic to businesses and economies alike, the Nigerian capital market has continued to provide the much-needed succor for corporate entities looking to raise funds to meet shortfalls in their working capital needs as well as capital expenditures. The Nigerian real estate sector has evidently been one of the worst-hit sectors with financing remaining a core challenge for property developers and prospective homeowners.<\/div>\n
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The NMRC is a private sector-driven mortgage refinancing company with the purpose of promoting home ownership for Nigerians while deepening the primary and secondary mortgage markets by raising long-term funds from the capital market, to enhance access to affordable housing finance in Nigeria.\u200b<\/div>\n
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In a quote by the Managing Director of NMRC, Mr. Kehinde Ogundimu, he mentioned that \u201cthe proceeds of the issue would be used to refinance existing and conforming mortgage loans, he added that the issuance also demonstrates NMRC\u2019s commitment to the provision of affordable liquidity to the mortgage market by attracting long-term funding into the housing finance industry from the capital markets. Mr. Ogundimu further stated that the prevailing interest rate regime will reduce the rate at which the primary mortgage institutions onlend to their customers and in the long-term, substantially drive reduction in mortgage interest rates as well as translate to cost reductions in housing construction finance going forward\u201d.<\/div>\n
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In an additional quote by the sponsors of the transaction on the Exchange, DLM Capital Group said \u201cWe are proud to have acted as Issuing House and Financial Advisors on the NMRC Series 3 Bond issuance. The success of the deal indicates that investors have an appetite for long tenured assets and highlights their confidence in NMRC\u2019s operating model. We expect the impact on the mortgage industry to be far reaching, making home-ownership much more accessible to the average individual\u201d.<\/div>\n
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These recent admissions to FMDQ Exchange\u2019s platform are reflective of the potential of the Nigerian DCM and the commendable level of confidence demonstrated by both issuers and investors in the market.<\/div>\n
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They also validate the efficient processes and integrated systems through which FMDQ Holdings PLC (FMDQ Group or FMDQ), through its wholly owned subsidiaries \u2013 FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited \u2013 has sustained its uninterrupted service delivery to the market and its diverse stakeholders during these uncertain times and beyond. As is the corporate tradition for FMDQ Exchange, these securities shall be availed the benefits of the value-driven listings and quotations service on the Exchange, including global visibility through its website and systems, liquidity credible price formation and continuous information disclosure to protect investor interest, amongst others. In keeping with its commitment to the development of the market, FMDQ Exchange shall sustain its efforts in supporting issuers with tailored financing options to enable them achieve their strategic objectives, deepen and effectively position the Nigerian DCM for growth, in support of the realisation of a globally competitive and vibrant economy.\u200b<\/div>\n<\/div>\n<\/p>
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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

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 Nigerian Mortgage Refinance Company PLC (\u201cNMRC\u201d) Series 3 \u20a610.00 billion Fixed Rate Bond under its \u20a6440.00 billion Bond Issuance Programme on its platform.<\/p>\n","protected":false},"author":6,"featured_media":46360,"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],"tags":[8087],"coauthors":[2391],"class_list":["post-46359","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","tag-mortgage-refinance"],"yoast_head":"\nNigeria Mortgage Refinance Company Plc Lists \u20a610.00 Billion Fixed Rate Bond On FMDQ Exchange - 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