FMDQ positions to support housing sector through DCM
…As Mixta Real Estate lists 4.50b bond on platform
FMDQ has announced the approval for the listing of the Mixta Real Estate PLC ₦4.50 bnillion Series 1 5-Year 17.00 per cent fixed rate Senior Guaranteed Bond (the Mixta Bond) under a ₦30.00bn Medium Term Note Programme.
According to FMDQ, this follows the approval granted to Lagos State Government by the Board Listings, Markets and Technology Committee of FMDQ OTC Securities Exchange for the listing of the Lagos State ₦47.00 billion bond on the OTC Exchange.
By listing on FMDQ, the Mixta Bond would enjoy exceptional benefits which includes enhanced investor confidence in the Mixta Bond, transparent information disclosure, effective price formation and global visibility from the FMDQ-Bloomberg E-Bond Trading and Surveillance System, the FMDQ website and FMDQ e-Markets Portal.
In streamlining the efficiency of its processes and delivering value to both corporate and commercial businesses desirous of accessing the debt capital market (DCM), FMDQ said it would continue to avail its credible platform. It also promised to tailor its Listings and Quotations service to suit the needs of the issuers.
Mixta Real Estate Plc is a real estate developer, providing advisory services, and taking on special medium to large-scale development projects, therefore, becomes the first real estate bond to be listed on FMDQ’s platform in 2017.
“Having signed a memorandum of understanding with the Nigeria Mortgage Refinance Company (NMRC) PLC, towards bridging the housing gap in Nigeria through the DCM, the listing of the Mixta Bond on FMDQ, is therefore a welcome development, paving the way for other issuers in the real estate sector, with a view to fully maximising the potential of the DCM in supporting economic growth and development.
“As the Nigerian DCM-focused OTC Exchange, FMDQ has and shall continue to enable even more issuers key into the offerings of the Nigerian DCM to boost their businesses and therefrom, build their corporate profiles.”