The FMDQ Securities Exchange Limited approved the listing of Nigeria Mortgage Refinance Company Plc’s N11.50bn 10-year 17.25 per cent Series 1 Fixed Rate Bond under its N440.00bn medium-term note programme.
This is coming as the Nigerian debt capital market continues to experience significant growth, driving economic expansion and broadening access to capital through enhanced liquidity, transparency, and price discovery.
This milestone, according to the FMDQ Securities Exchange Limited’s statement on Monday, highlights the Exchange’s pivotal role in enabling long-term capital formation and supporting the advancement of the Nigerian housing finance ecosystem.
The statement noted that proceeds from the bond issuance, sponsored by Stanbic IBTC Capital Limited, will be used to expand NMRC’s refinancing operations, strengthen lending capacity to primary mortgage lenders, and advance the Federal Government’s strategic agenda of improving housing accessibility for Nigerians across all income levels.
Commenting, the Managing Director of NMRC, Kehinde Ogundimu, said, “NMRC is pleased with the strong reception of our Series 1 Bond issuance, which reflects continued investor confidence in NMRC’s business model and the critical role we play in strengthening Nigeria’s housing finance ecosystem. The successful execution of this transaction enables us to further support mortgage lenders with long-term funding and advance our objective of improving access to affordable housing finance.”
Similarly, the Chief Executive of Stanbic IBTC Capital Limited, Oladele Sotubo, said, “Stanbic IBTC Capital is delighted to have acted as Sole Issuing House and Bookrunner. The strong level of oversubscription highlights the strength of investor appetite for well-structured, high-quality credit in the Nigerian debt capital markets. This successful issuance further underscores our commitment to supporting issuers with innovative access to long-term funding.”
The Group Chief Operating Officer of FMDQ Group Plc, Tumi Sekoni, also said, “The listing underscores the continued depth of Nigeria’s debt capital market and the vital role that well-structured, long-tenor fixed-income securities play in mobilising capital for sectors of strategic national importance. Housing finance remains central to inclusive economic development, and NMRC’s presence on our platform reinforces our commitment to providing a transparent, efficient, and credible marketplace.”
Established in 2013, NMRC serves as the apex liquidity facility for the Nigerian mortgage market. By providing long-term funding to primary mortgage lenders, it remains a cornerstone of the national effort to promote affordable homeownership.
FMDQ Exchange continues to leverage its innovative platform to connect credible issuers with a diverse pool of investors, reinforcing the resilience of Nigeria’s financial markets. As Africa’s first vertically integrated financial market infrastructure group, FMDQ Group PLC provides a comprehensive suite of services including registration, listing, trading, clearing, and central counterparty services through its various subsidiaries.
