Greenwich Quotes N12.2bn Maiden Commercial Paper on FMDQ

Sunday Ehigiator

In line with its commitment to providing bespoke financial solutions to its diverse clientele base, Greenwich Merchant Bank Limited officially quoted its maiden N10 billion ‘Series I & II’ Commercial Paper Issuance under its N100 Billion Commercial Paper Issuance Programme on the FMDQ Exchange Securities Limited

In a statement, the bank, said, “The Series I & II issuances which recorded a 22 per cent oversubscription with orders of N12.2 billion intended to strengthen the bank’s working capital and liquidity to better meet the evolving needs of clients and offer more diversified financial products and services while sustainably optimizing returns for stakeholders in both public and private sectors.”

Speaking to the media during the ceremony, the Managing Director of the Bank, Mr Bayo Rotimi, reiterated the importance and positive impact the issuance has on catalyzing Nigeria’s socio-economic growth and development.

He said, “As Nigeria’s last licensed merchant bank, we are gratified that our maiden issuance was received warmly. It is a validation of our diversified investors’ confidence and trust in our future strategy as an institution.

“The issuance met our objective of raising short-term working capital to help strengthen our stakeholder value and we remain committed to delivering innovative and cutting-edge financial solutions to discerning issuers and investors.”

The statement added that in the last two years since its transition, Greenwich Merchant Bank has supported several high-quality private sector clients, the State and Federal Government of Nigeria to raise capital for several projects, via Sukuk, Bonds and Commercial Papers Issuances.