By Omobayo Azeez
The Nigerian Stock Exchange (NSE) Thursday listed the bonds of Flour Mills of Nigeria Plc and Primero BRT Securitization SPV Plc at the Exchange after both cumulatively raised N28.9 billion.
While Flour Mills of Nigeria Plc listed its N12.499 billion three-Years 10 per cent Series 3 (Tranche A) Fixed Rate Senior Unsecured Bond due 2023; and the N7.5 billion five-Year 11.10 per cent Series 3 (Tranche B) Fixed Rate Senior Unsecured Bond due 2025; Primero BRT listed its N16.5 billion Series 1; 17 per cent Fixed Rate Bonds due 2026, under its N100 billion Medium Term Bond Programme.
Commenting on the listing, Peter Gbededo, group managing director, Flour Mills Nigeria Plc, expressed delight at the opportunity to return to the capital market with such a successful outing, especially with the level of interest shown by investors.
“The response from the market vindicates our decision to have taken this additional step to diversify our financing options beyond short-term commercial bank debt,” he said.
Appreciating the efforts of the role NSE in deepening secondary market liquidity thus aligning the market with international best practices, he said the company looks “forward to enjoying the benefits of these efforts in our short and long-term instruments.”
Meanwhile, Oscar Onyema, chief executive of the NSE, , congratulated the management of Flour Mills Nigeria Plc and Primero BRT Securitization SPV Plc and the professional parties to the issue.
He reiterated the commitment of the exchange to support its stakeholders by ensuring that its operations and trading activities continue seamlessly throughout this period.
“We have put in place the requisite measures to guarantee that our staff are able to provide requisite support, our stakeholders are able to conduct business digitally, and that all relevant information continues to flow into the market to spur capital market activity during the COVID-19 pandemic,” Onyema said.
Frontpage September 12, 2017