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HomeCompany NewsFCMB gets SEC approval to raise N30 bonds, starts book build

FCMB gets SEC approval to raise N30 bonds, starts book build

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By Samuel Bankole

 

FCMB Group, the holding company of First City Monument Bank said it has received the approval of the country’s capital market regulator to launch N30 billion debt notes.

According to the company, the bond issuance is part of N300 billion debt programme registered with the Securities and Exchange Commission (SEC).

It said the N30 billion debt instrument will have perpetual fixed rate resettable NCS.25 additional tier 1 bond.

READ ALSO: Nigeria issues N1.43 trln, $788.02 and €133.761 promissory notes to creditors in 5-year ~DMO

FCMB said it has commenced the book build in respect of the bond issuance on Tuesday, January 24.

“The Issuance represents the first non-sharia local currency AT1 instrument to be issued in Nigeria and has received CBN’s no-objection.

“FCMB Group will commence the book build in respect of the Series I Bond on January 24, 2023,” the holding company said in a regulatory filing with the Nigerian Exchange Limited (NGX).

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