{"id":49434,"date":"2021-06-03T09:03:59","date_gmt":"2021-06-03T08:03:59","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=49434"},"modified":"2021-06-03T09:03:59","modified_gmt":"2021-06-03T08:03:59","slug":"fmdq-admits-union-bank-n34-96b-cps","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/fmdq-admits-union-bank-n34-96b-cps\/","title":{"rendered":"FMDQ Admits Union Bank N34.96b CPs"},"content":{"rendered":"

FMDQ Securities Exchange Ltd on Wednesday approved the quotation of Union Bank of Nigeria Plc N2.58 billion Series 8 and N32.38 billion Series 9 Commercial Papers (CPs).<\/p>\n

The Chief Executive Officer of the Bank, Mr Emeka Okonkwo, in a statement explained that the successful transaction was a milestone for the bank.<\/p>\n

\"\"<\/p>\n

He said the approved quotation was under the bank\u2019s N100 billion domestic debt issuance programme.<\/p>\n

\u201cThe series 8 and 9 commercial paper issuance under our N100 billion domestic debt issuance programme is another strategic milestone in our bid to establish Union Bank as a leading financial institution in Nigeria.<\/p>\n

\u201cThe net proceeds from the issuance will further diversify our sources of capital as we continue to accelerate business growth and drive our long-term strategy.<\/p>\n

\u201cSince the registration of the debt issuance programme in 2018, we have continued to see active participation from the market, demonstrating continued investor confidence in Union Bank and its growth trajectory,\u201d he said.<\/p>\n

Okonkwo added that the proceeds from the CPs would be used to support the bank\u2019s short-term funding requirements.<\/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>\n

He noted that the CPs were co-sponsored by Renaissance Securities (Nigeria) Ltd. (lead sponsor), Standard Chartered Capital & Advisory Nigeria Ltd and UCML Capital Ltd.<\/p>\n

Also, the Ag. Chief Executive Officer and Director Financing, Renaissance Securities (Nigeria) Ltd., Mr Samuel Sule, said the company was pleased to have partnered Union Bank on successfully accessing the domestic commercial paper markets once again.<\/p>\n

Also commenting on the issue, the acting Chief Executive Officer and Director Financing, Renaissance Securities, Mr Samuel Sule, said the company was impressed with the success recorded by the CPs.<\/p>\n

\u201cRenaissance Capital is pleased to have partnered with Union Bank on successfully accessing the domestic commercial paper markets once again.<\/p>\n

\u201cUnion Bank is an established and sophisticated issuer and has proven its ability to navigate our everchanging rate and liquidity environments on numerous occasions.<\/p>\n

\u201cThe solid participation by institutional investors on this oversubscribed dual series issuance underscores the sustained confidence in Union Bank\u2019s medium-term strategy and highlights the bank\u2019s attractive credit story,\u201d Sule said.<\/p>\n

FMDQ Group is Africa\u2019s first vertically integrated financial market infrastructure group, strategically positioned to provide registration, listing & quotation services and seamless trading, amongst others.<\/p>\n","protected":false},"excerpt":{"rendered":"

FMDQ Securities Exchange Ltd on Wednesday approved the quotation of Union Bank of Nigeria Plc N2.58 billion Series 8 and N32.38 billion Series 9 Commercial Papers (CPs).\u00a0<\/p>\n","protected":false},"author":6,"featured_media":41931,"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":[6502,7150],"coauthors":[2391],"class_list":["post-49434","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-fmdq-securities-exchange","tag-union-bank-plc"],"yoast_head":"\nFMDQ Admits Union Bank N34.96b CPs - National Wire<\/title>\n<meta name=\"description\" content=\"FMDQ Securities Exchange Ltd on Wednesday approved the quotation of Union Bank of Nigeria Plc N2.58 billion Series 8 and N32\" \/>\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\/fmdq-admits-union-bank-n34-96b-cps\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FMDQ Admits Union Bank N34.96b CPs - 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