ARTICLE AD BOX
The FMDQ Securities Exchange Limited has approved the listing of Nigeria Mortgage Refinance Company Plc’s N11.50 billion, 10‑year, 17.25 percent Series 1 Fixed‑Rate Bond under its N440.00 billion medium‑term note programme.
The approval comes as Nigeria’s debt capital market continues to grow markedly, fostering economic expansion and expanding access to capital through greater liquidity, transparency and price discovery.
In a statement released on Monday, the FMDQ Securities Exchange Limited said the milestone underscores the Exchange’s pivotal role in facilitating long‑term capital formation and advancing the Nigerian housing‑finance ecosystem.
The statement added that proceeds from the bond issuance, which was sponsored by Stanbic IBTC Capital Limited, will be directed to expand NMRC’s refinancing activities, boost lending capacity for primary mortgage lenders, and support the Federal Government’s strategy to improve housing accessibility for Nigerians of 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.”
Founded in 2013, NMRC functions as the apex liquidity facility for Nigeria’s mortgage market. By supplying long‑term funding to primary mortgage lenders, it remains a cornerstone of the national effort to promote affordable homeownership.
FMDQ Exchange continues to use its innovative platform to link credible issuers with a diverse investor base, thereby reinforcing the resilience of Nigeria’s financial markets. As Africa’s first vertically integrated financial‑market infrastructure group, FMDQ Group PLC offers a full range of services—registration, listing, trading, clearing and central counterparty—through its subsidiaries.
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