FMDQ Securities Exchange Limited (FMDQ) has announced that the Flour Mills of Nigeria (FMN) Plc Series 3 N12.49 billion tranche A and N7.50 billion tranche B Fixed Rate Senior Unsecured Bonds under the N70.00 billion Bond Issuance Programme.
In a statement yesterday, the Exchange said that proceeds from these bonds will be used to refinance the food giant’s short-term debt obligation as well as support its working capital.
The exchange had in December 2018 admitted the Flour Mills of Nigeria Series 1 & 2 N20.11 billion bonds and also listed the Chapel Hill Denham Nigeria Infrastructure Debt Fund Series 6 162.72 million Units of N100.00 each at N109.72 under the N200.00 billion Issuance Programme on its platform.
The Chapel Hill NIDF, which is the pioneer Infrastructure Debt Fund in Nigeria and Sub-Saharan Africa, has its investment focus on the traditional infrastructure sectors, primarily transport, power, renewable energy, utilities, energy infrastructure, logistics and other public-private-partnership type investments. The fund aims to enable investors access infrastructure as an asset class, while providing returns available from long-dated infrastructure debt investments.