Vanguard News
CardinalStone lists N5bn bond on FMDQ
On
Eurobonds
CardinalStone Partners Limited has announced the listing of the CardinalStone Financing SPV Plc N5 billion Series-I Bond on FMDQ Securities Exchange Limited .
The company, in a statement, said it successfully closed its Series-1 Bond, which is the lowest priced bond by any non-bank financial institution in Nigeria for a similar tenor in the last ten years. The bond, which is the first tranche of the company’s N10 billion bond issuance programme, is a 5-Year 7% Fixed Rate Senior Unsecured Bond due 2025.
By virtue of this listing, the company’s bond has been successfully admitted to the Daily Quotations List of the FMDQ and this means that investors who already hold the Bonds can trade them while new investors have an opportunity to buy the Bonds on the secondary market. Commenting on the bond issue, the Managing Director of the firm, Michael Nzewi, noted that “the full subscription level recorded demons
Views: Visits 13 Eurobonds CardinalStone Partners Limited has announced the listing of the CardinalStone Financing SPV Plc N5 billion Series-I Bond on FMDQ Securities Exchange Limited . The company, in a statement, said it successfully closed its Series-1 Bond, which is the lowest priced bond by any non-bank financial institution in Nigeria for a similar tenor in the last ten years. The bond, which is the first tranche of the company’s N10 billion bond issuance programme, is a 5-Year 7% Fixed Rate Senior Unsecured Bond due 2025. READ ALSOSanwo-Olu flags off construction of new 150 bed Massey Street Children’s Hospital By virtue of this listing, the company’s bond has been successfully admitted to the Daily Quotations List of the FMDQ and this means that investors who already hold the Bonds can trade them while new investors have an opportunity to buy the Bonds on the secondary market. Commenting on the bond issue, the Managing Director of the