Friday, 10 February 2017

Forte Oil opens bond listing in 2017 on FMDQ with N9b

Coming very shortly on the heels of the recent quotation of the Dufil Prima Foods commercial paper notes, is the admittance for listing of the ₦9.00bn Forte Oil PLC Bond (Series 1 under a ₦50.00bn Medium-Term Bond Programme) on FMDQ OTC Securities Exchange (‘FMDQ).

This listing, which is the first corporate debt listing in 2017, attests to the largely untapped potential of the Nigerian debt capital market (DCM), which from inception, FMDQ has, through its systems and other relevant market infrastructures, committed to making “GOLD” – Globally competitive, Liquid, Operationally excellent and Diverse.

As part of its commitment to continually deliver exceptional value to the Nigerian financial markets and its stakeholders, the OTC Exchange demonstrated its steadfastness as it again achieved swift time to market in the listing process. The admittance of the Forte Oil PLC Bond for listing on the OTC Exchange, which was granted by the FMDQ Board Listings, Markets and Technology Committee, will be followed by a prestigious listing ceremony at the OTC Exchange in the coming weeks to commemorate this laudable achievement in honour of the issuer, Forte Oil PLC.

As the debt capital-focused OTC securities exchange in Nigeria, FMDQ has continued to align its strategies and innovation to serve and provide the much-needed succour to the players in the Nigerian DCM. This has enabled even more issuers key into the offerings of the Nigerian DCM to boost their businesses and therefrom, build their corporate profiles.

From its value-packed Listings & Quotations service to its unrivalled information transparency, the OTC Exchange, through its tailored business services, is deepening the OTC markets, and this listing represents another milestone for FMDQ. By listing on FMDQ, investor confidence is enhanced for the Forte Oil PLC Bond, through the availed transparency, information disclosure, price formation and global visibility from the FMDQ-Bloomberg E-Bond System, the FMDQ website and FMDQ e-Markets Portal.

As part of efforts geared towards aligning the markets within its purview to international standards, FMDQ, with the collective efforts of its varied stakeholders shall continue to deliver on its value-adding initiatives, focused on product and market development, to build and standardise the Nigerian financial markets.

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