Investors can now buy and sell the First City Monument Bank (FCMB) Limited N26 billion bond on the trading platform of the Financial Market Dealers Quote (FMDQ). The bond, which will mature in 2021 with a fixed annual interest rate of 14.25 percent, was the first to be issued under the N100 billion debt issuance programme of the bank.
FCMB Capital Markets Limited, the investment banking subsidiary of FCMB Group Plc, is the issuing house and sponsor of the bond. The Group Managing Director/Chief Executive of FCMB Limited, Mr. Ladi Balogun, said that ‘’The significance of listing the FCMB bond on the FMDQ platform is dependant on the availability of a readily accessible liquid market to the bondholders, where the value of their investments can easily be determined and monitored on a daily basis. It also provides a platform to realise their investment when necessary’’.
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