FSDH Funding SPV PLC has listed N7.05 billion Tranche A and N4.95 billion Tranche B Series 1 Fixed Rate Bonds under its N30 billion Debt Issuance Programme on FMDQ Securities Exchange platform.
FSDH Funding SPV PLC is a special purpose vehicle set up to raise capital from the Nigerian debt capital market for FSDH Merchant Bank Limited.
Speaking on the successful issuance of the Bonds, the Director, FSDH Funding SPV PLC, Mr. Adekunle Awojobi, said “we are pleased about the successful N12.00 billion capital-raise under the FSDH Funding SPV PLC’s N30.00 billion Debt Issuance Programme. The bond issue is the first series under the programme and comprises of two Tranches (Tranche A & B) of subordinated and senior bond notes, each with a 5-year tenure. The listing of the bonds on FMDQ’s platform will help provide visibility and enhance the liquidity of the bonds.
The net proceeds of the bond issue will be used to fund the growth of risk assets of the Sponsor, FSDH Merchant Bank Limited. He said a portion of the bond issuance will serve the dual purpose of shoring up the Bank’s Tier 2 capital, in line with its Internal Capital Adequacy Assessment Process”.
