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    Wednesday, May 27
    Financial Products

    FSDH Merchant Bank Selling N20bn Commercial Papers Series

    Julius AlagbeBy Updated:No Comments1 Min Read
    FSDH Merchant Bank Selling N20bn Commercial Papers Series

    FSDH Merchant Bank Selling N20bn Commercial Papers Series

    FSDH Merchant Bank Limited has started offering series 6 (181-day tenor) and series 7 (268-day tenor) commercial papers with a target size of up to ₦20 billion across all tenors under its ₦40 billion commercial paper issuance programme.

    According to a statement from Broadstreet, the merchant banking firm offers opened on January 26 and would close on January 31 with a settlement on February 1, 2022.

    The 181-day and 268-day tenor commercial papers are being issued at discount rates of 9.0000 per cent and 9.7484 per cent, with implied yields of 9.4204 per cent and 10.5000 per cent, respectively.

    The discount rate looks appealing when compared with similar instrument spot price in the Nigerian debt capital market, analysts told MarketForces Africa, arguing that the merchant banker commercial paper has moderated risk exposure. Read

    The issuer is assigned an ‘A’ rating by Agusto and an ‘A-‘rating by GCR. The commercial paper issuance will be free and clear of withholding taxes, according to analysts. #FSDH Merchant Bank Selling N20bn Commercial Papers Series

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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