FBNQuest Merchant Bank Limited aims to raise up to N15billion from its Series 1 and Series 2 Commercial Papers (CPs) issuance.
The series 1 and 2 CPs are from FBNQuest Merchant Bank Limited N100 billion Commercial Paper Programme.
The CPs issuance indicative offer opened on Wednesday, March 9, 2022, and is scheduled to close on Tuesday, March 15, 2022. Friday, March 11, 2022, is its indicative settlement date.
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The net proceeds from each issue of the CPs will be applied to support FBNQuest Merchant Bank Limited short term funding requirements, as part of its working capital management strategy. The Company is rated ‘A’ by Agusto & Co and ‘A-’ by GCR Ratings.
