FMDQ OTC Securities Exchange (FMDQ) on Monday listed Transcorp Hotels Plc’s N10 billion Series 17-year fixed rate unsecured N30 billion medium-term bond on its platform.
Speaking at the listing in Lagos, Ms Tumi Sekoni, FMDQ Head, Marketing & Business Development Division, said it would contribute to the growth of the Nigerian corporate bond market.
Sekoni said that FMDQ listing service had been tailored to provide a unique opportunity for issuers to raise the profiles of their issues and access a deep pool of capital for long-term funding needs.
Also speaking, Mr Valentine Ozigbo, Managing Director, Transcorp Hotels, said the company was delighted for the bond listing on FMDQ platform.
“We are very delighted to have successfully closed our Series 1 & 2 Bonds, where we raised ₦19.76bn in the last quarter of 2015″, Ozigbo said.
He said that the listing would ensure a more efficient capital mix and access to a more diversified funding source for the company.
“By this listing, we have kept our promise to deliver value to all stakeholders and we will continue to do so,” he added
He said that the proceeds would be used for the upgrade of the Transcorp Hilton Hotel Abuja and other long-term projects.
The managing Director added that the listing would offer investing public the opportunity to be part of the company’s success story and an avenue for wealth creation.
Mrs Oluwatoyin Sanni, the Managing Director, United Capital Plc, lead issuing house to the issue, said that the company was delighted to have played a leading role in the successful execution of the Transcorp Hotels Series 1 Bond issue.
Sanni said that United Capital remained committed to making significant contributions to the success of its esteemed clients.
“This transaction represents one of the ways we support leading businesses through our expertise in capital raising.
United Capital has been lead issuing house and lead underwriter and trustee to the largest local currency bonds issued in both 2014 and 2015,” she said.
Sanni disclosed that the company had invested N45 billion in bonds issued by Nigerian states governments and corporate entities between September 2014 and December 2015.
“We will continue to support Nigerian governments and businesses with superior advisory, capital raising and trust services,” she added.
The News Agency of Nigeria (NAN) reports that the bond was also listed at the Nigerian Stock Exchange (NSE) platform. (NAN)


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