FMDQ Exchange Admits Axxela’s ₦11.50bn Series 1 Funding Bond

FMDQ Exchange Admits Axxela’s ₦11.50bn Series 1 Funding Bond

The FMDQ Holdings has admitted the Axxela Funding 1 PLC ₦11.50 billion Series 1 Bond under its ₦50 billion Bond Programme platform.

FMDQ Group in a statement said that Axxela Funding was admitted through its subsidiary, FMDQ Exchange.

According to the statement, Axxela Funding 1 PLC is a special purpose vehicle (SPV) incorporated by Axxela Limited.

The SPV objective is to raise funds through the issuance of debt securities in the domestic capital market.FMDQ Exchange Admits Axxela’s ₦11.50bn Series 1 Funding Bond

Axxela Limited, owned by Helios Investment Partners, is a natural gas shipping company on the West African Gas Pipeline.

The Company provides unique energy solutions with presence in Nigeria and gas export operations in neighbouring West African countries.

The Exchange said: “The admittance of the Axxela bond is testament to the opportunities which the Nigeria Debt Market Capital (DCM) avails to corporates in diverse business areas.

“Also, to the potential of the market to support stakeholders effectively even as they carry on their activities in the face of the pandemic”.

The Axxela bond, by its listing on FMDQ, shall be admitted onto the Daily Quotations List.

Thus, promoting the much-needed transparency for investors and providing a credible basis for portfolio valuation daily.

It stated that through the global visibility which the Exchange website and systems guarantee, the corporate profile of the issuer is raised even further ahead of tapping into other opportunities in the Nigerian capital market.

The statement highlighted the roles of the DCM, which played an important role in the efficient mobilisation and allocation of resources in the economy.

Despite the impact of the current times, the market had continued to effectively support corporate firms looking to expand their business operations.

“It is in this regard that FMDQ Holdings in its role as a market organiser of the Nigerian DCM, amongst others, has continued to provide stakeholders with a credible and robust platform for capital access, risk management and transfer of value,” it said.

FMDQ Group is Africa’s first vertically integrated financial market Infrastructure group.

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The platform provides a one-stop platform for the seamless and cost-efficient execution, risk management, clearing, settlement, depository; data and information services for the Nigerian financial market.

It achieves this through its subsidiaries which include FMDQ Exchange, Clear and Depository Limited and FMDQ Private Markets Limited.

FMDQ Exchange Admits Axxela’s ₦11.50bn Series 1 Funding Bond