DLM SPV Lists N9bn AAA-Rated Medium-Term Note on FMDQ
FMDQ Securities Exchange Limited has officially approved the listing of DLM SPV PLC’s ₦7.30 billion Series 1 (Tranche A) and ₦1.70 billion Series 3 (Tranche B) Plain Vanilla Returns Sovereign Bond-Backed Composite Notes under its ₦30.00 billion Medium-Term Notes Programme.
This decisive approval from the Exchange’s Board Listings and Markets Committee solidifies FMDQ’s position as the preferred platform for innovative debt structures that effectively meet investor demands and issuer funding needs.
DLM SPV, a special purpose vehicle designed to facilitate structured financing arrangements, exemplifies a groundbreaking approach to capital mobilisation within Nigeria’s dynamic financial landscape.
The dual-tranche issuance structure distinctly provides investors with a range of risk-return profiles while ensuring efficient capital deployment. The net proceeds from this Notes issuance, sponsored by DLM Advisory Services Limited, a registered member of FMDQ Exchange, will be utilised strategically in line with the terms of the underlying transaction structure, directly supporting productive economic activities aligned with the issuer’s strategic goals.
Dr. Sonnie Ayere, Group Chief Executive Officer of DLM Capital Group, stated, “The listing and premium pricing of the DLM Series 1 Tranche A Bond at ₦112.14 not only marks a pivotal achievement for DLM Capital Group but also sets a new standard for Nigeria’s fixed income market.
“The AAA/AAA credit ratings from Global Credit Rating and DataPro Limited, coupled with commanding benchmark pricing, underscore the market’s recognition of our robust credit structure, disciplined risk framework, and sovereign-level credit protection that underpin this instrument.
“This transaction affirms our commitment to engineering high-quality, low-risk investment products that attract significant domestic capital. Furthermore, it establishes a new benchmark for pricing structured corporate issuances backed by strong credit fundamentals and unwavering investor confidence.
“With this momentum, DLM is strategically positioned to expand its issuance, enhance liquidity across future series, and continue delivering innovative, high-quality instruments that fortify Nigerian capital markets while delivering sustainable value for investors.”
Mr. Nwabu Okonkwo, Managing Director of Investment Banking at DLM Advisory Limited, added, “DLM Advisory Limited is proud to have acted as Financial Adviser, Transaction Structurer, and Joint Issuing House for the ₦7.30 billion Series 1 Tranche A with a 40.62% Hold-To-Maturity Return and the ₦1.70 billion Tranche B with a 19.07% Plain Jaiz Bank Lost 10% as Investors Dump Shares
