Sterling Bank’s N100bn commercial paper’ll boost market confidence

Sterling Bank’s N100bn commercial paper’ll boost market confidence

The registration of the Sterling Bank Plc’s N100bn commercial paper programme will boost confidence in the Nigerian financial market, according to FMDQ OTC Securities Exchange.

The CP, which was signed on the FMDQ platform, came barely after the listing of the Wema Funding SPV Bond.

This registration followed the due approval of the FMDQ Board Listings, Markets and Technology Committee and served to further instil confidence in the Nigerian financial market, given the current economic climate, the FMDQ said in a statement.

The statement added, “An FMDQ quotations service avails, among others, credibility for quoted CPs and global visibility via the FMDQ website and the FMDQBloomberg Trading System (E-Bond).”

Having successfully commenced and developed its listings and quotations process, FMDQ said it had contributed to the growth and competitiveness of the Nigerian fixed income market.

The firm added, “The timely and efficient registration of the Sterling Bank CP programme is a validation of one of the core mandates of FMDQ towards revolutionising the Nigerian debt capital market.”

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