…as Mixta Real Estate PLC Lists ₦4.50bn Bond on the OTC Exchange
April 4, 2017/FMDQ OTC
Following the approval granted the Lagos State Government by the Board Listings, Markets and Technology Committee of FMDQ OTC Securities Exchange (FMDQ or the OTC Exchange), for the listing of the Lagos State ₦47.00bn Bond on the OTC Exchange, in an unrivalled time to market, comes the approval for the listing of the Mixta Real Estate PLC ₦4.50bn Series 1 5-Year 17.00% Fixed Rate Senior Guaranteed Bond (the Mixta Bond) under a ₦30.00bn Medium Term Note Programme.
In streamlining the efficiency of its processes and delivering value to both corporate and commercial businesses desirous of accessing the debt capital market (DCM), FMDQ has continued to avail its credible platform as well as tailor its Listings and Quotations service to suit the needs of the issuers.
Mixta Real Estate PLC, a real estate developer, providing advisory services, and taking on special medium to large scale development projects, therefore, becomes the first real estate bond to be listed on FMDQ’s platform in 2017.
By listing on FMDQ, the Mixta Bond enjoys exceptional benefits which includes, but are not limited to, enhanced investor confidence in the Mixta Bond, transparent information disclosure, effective price formation and global visibility from the FMDQ-Bloomberg E-Bond Trading and Surveillance System, the FMDQ website and FMDQ e-Markets Portal. A unique listing ceremony is being planned to formally welcome the Mixta Bond onto the platform in the coming weeks, in honour of the issuer, Mixta Real Estate PLC.
Having signed a memorandum of understanding with the Nigeria Mortgage Refinance Company (NMRC) PLC, towards bridging the housing gap in Nigeria through the DCM, the listing of the Mixta Bond on FMDQ, is therefore a welcome development, paving the way for other issuers in the real estate sector, with a view to fully maximising the potential of the DCM in supporting economic growth and development.
As the Nigerian DCM-focused OTC Exchange, FMDQ has and shall continue to enable even more issuers key into the offerings of the Nigerian DCM to boost their businesses and therefrom, build their corporate profiles.