The FMDQ Securities Exchange PLC, has announced the admission for listing on its platform, the Primero BRT Securitisation SPV PLC ₦16,500,000,000 Series 1 Fixed Rate Bond referred as the Primero BRT Bond.
The announcement which was contained in a statement issued by the exchange, says the bond listing is in line with the Exchange’s mandate of providing a credible avenue for corporate and governments to raise capital and foster the economic development of the nation.
“Like other debt securities listed on FMDQ Exchange, the Primero Bond shall be availed global visibility through the FMDQ Exchange website and systems, governance and continuous information disclosure to protect investor interest, credible price formation amongst other benefits derived from being an FMDQ Exchange listing.”
“As this institution and a host of others continue to effectively and sustainably meet their funding needs, as well as contribute to the development of the nation’s capital markets through FMDQ Exchange’s platform, the Exchange will continue to take crucial steps, in collaboration with market stakeholders, to deliver on its agenda of making the Nigerian financial markets globally competitive,” it added.
The Primero BRT Securitisation SPV PLC, a special purpose vehicle, was set up by Primero Transport Services Limited, a private limited liability company that provides public transportation service to residents of Lagos State, to raise finance to support its operation through the issuance of debt securities.
The net proceeds of the Primero Bond would be utilised for funding the operating assets of the Bus Rapid Transit System, amongst others.