By Chinwendu Obienyi
In a bid to support housing and infrastructure development, FMDQ OTC Securities, at the weekend, admitted Mixta Real Estate (Nigeria) Plc bonds on its platform.
The listing of the Mixta Real Estate PLC N2.96 billion Tranche A and N2.32 billion Tranche B Series 2 Bonds (the “Mixta Bonds”) under a N30.00 billion Debt Issuance Programme and the quotation of the Mixta Real Estate PLC N9.84 billion Series 1 and N2.08 billion Series 2 Commercial Papers under a N15.00 billion CPs Issuance Programme, on FMDQ is another significant contribution inspiring confidence in the Nigerian markets as housing and infrastructure development progressively takes form.
Speaking during the event in Lagos, Associate Executive Director, Capital Markets, FMDQ, Tumi Sekoni, congratulated the issuer for the successful issuances while adding that the use of the proceeds of the bonds & CPs would help address the nation’s housing and infrastructure gap in a sustainable manner to deliver prosperity for Nigerians and further deepen the domestic DCM, invariably contributing to Nigeria’s development.
She further reiterated FMDQ’s commitment to continue to deliver strategic initiatives towards the development of a highly liquid, deep and well-developed DCM in Nigeria.
Commenting further, Managing Director, Mixta Plc, Kola Ashiru-Balogun, noted that these issuances play an important role in implementing our business strategy to develop affordable housing units; our modest contribution to bridging Nigeria’s significant housing deficit.
According to him, “the confidence the Nigerian capital market as demonstrated in these issuances is encouraging; we are more than ever committed in our quest to make strategic partnerships and provide innovative solutions whilst utilising effective long-term financing mechanisms.”
Speaking on behalf of the sponsor to the bonds and CPs, Kayode Akinkugbe, stated, “we are pleased to have advised Mixta PLC on the issuances of its bonds and CPs. As a full-service investment bank, we have supported Mixta PLC in obtaining bridge finance, advised on the bond and CP issuances and security structure, and we leveraged our extensive distribution capability to successfully sell the bonds and CPs.
This transaction enables Mixta PLC to finance affordable housing projects and extends the tenor of its debt portfolio. Listing and quoting on the bonds and CPs on FMDQ will provide investors with a transparent and efficient platform for price determination, liquidity and execution of trades.”
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