FMDQ OTC Securities Exchange has admitted two bonds and commercial papers issued by Mixta Real Estate (Nigeria) Plc for trading on the over-the-counter market, paving the way for investors in the debt issues to trade on their holdings.
Mixta listed its N2.96 billion Tranche A and N2.32 billion Tranche B Series 2 bonds and N9.84 billion Series 1 and N2.08 billion Series 2 commercial papers. The bonds were issued under the company’s N30 billion debt issuance programme while the commercial papers were issued under its N15 billion commercial paper issuance programme.
The listing marked another significant contribution to inspire confidence in the Nigerian markets as housing and infrastructure development progressively takes form.
Managing Director, Mixta Real Estate (Nigeria) Plc, Mr. Kola Ashiru-Balogun, said the issuances played an important role in implementing the company’s business strategy to develop affordable housing units as part of its modest contribution to bridging Nigeria’s significant housing deficit.
“The confidence the Nigerian capital market has in us 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,” Ashiru-Balogun said.
Speaking on behalf of the sponsor to the bonds and commercial papers, Managing Director, FBNQuest Merchant Bank Limited, Mr. Kayode Akinkugbe, said as a full-service investment bank, the company supported Mixta in obtaining bridge finance and advised on the bond and commercial papers issuances and security structure.
According to him, FBNQuest Merchant Bank leveraged on its extensive distribution capability to successfully sell the bonds and commercial papers.
“This transaction enables Mixta to finance affordable housing projects and extends the tenor of its debt portfolio. Listing and quoting on the bonds and commercial papers on FMDQ will provide investors with a transparent and efficient platform for price determination, liquidity and execution of trades,” Akinkugbe said.
Associate Executive Director, Capital Markets, FMDQ OTC Securities Exchange, Ms. Tumi Sekoni noted that the use of the proceeds of the bonds and commercial papers would help address the nation’s housing and infrastructure gap in a sustainable manner.
She added that such debt issues would deliver prosperity to Nigerians and further deepen the domestic debt capital market, thus invariably contributing to Nigeria’s development.
She reiterated FMDQ’s commitment to continue to deliver strategic initiatives towards the development of a highly liquid, deep and well-developed debt capital market in Nigeria.
Associate Executive Director, Corporate Development, FMDQ OTC Securities Exchange, Ms. Kaodi Ugoji, commended Mixta for achieving what she described as landmark issues.
She commended parties to the issues for their concerted efforts towards ensuring the success of the issuances.
She pointed out that through consistent collaboration with its stakeholders, FMDQ will not relent on in its efforts to further deepen and effectively position the Nigerian debt capital market for growth, in support of the realisation of a globally competitive and vibrant economy.