Money and Fixed Income - Business Metrics

TSL SPV Plc N12bn bond listed on NSE

Feb 28, 2021 Omobayo Azeez

TSL SPV Plc N12bn bond listed on NSE The Nigerian Stock has announced listing of N12 billion bond of Transport Service Limited SPV under its N50 billion bond issuance. The Series 1 Senior Guaranteed Fixed Rate Infrastructure Bond Due 2030, issued by the transport company came with a 10 per cent per cent coupon rate, accruing from the issue date. According to the details of the bond, it has a volume of 12 million at N1,000 as unit value with the price 100 per cent at par. It was…

FMDQ admits Valency Agro’s N5.12bn commercial paper

Feb 26, 2021 Banjo Olaniran

FMDQ admits Valency Agro’s N5.12bn commercial paper FMDQ Securities Exchange Limited has announced the approval of the quotation of the Valency Agro Nigeria Limited N5.12 billion Series 1 Commercial Paper (CP) under its N20bn CP Programme on its platform. The Exchange said in fostering the development of the Nigerian debt capital markets, it had continued to avail its credible and efficient platform as well as tailor its listings and quotations services to suit the needs of issuers and registration members through innovative and uninterrupted service delivery. It said…

NTB Auction: DMO raise NTB stop rates by 133bps

Feb 25, 2021 Banjo Olaniran

By Analysts at Zedcrest Capital FGN Bonds The FGN Bond market continued to trade on a strong note, as spreads tightened at the belly and tail of the FGN Bond curve, following sustained speculative demand. We witnessed sustained interest for the long-tenured bonds, with pushed yields on the 2034s to 2037s papers down by c.20bps on the day. The 2045s and 2049s papers also saw some demand, closing lower by c.20bps as well eventually trading hands at 11.10% levels. Overall, yields compressed by c.10bps on the average across the FGN…

FMDQ Exchange admits Parthian Partners’ N20bn commercial paper

Feb 24, 2021Feb 25, 2021 Ugochi Emmanuel

FMDQ Exchange admits Parthian Partners’ N20bn commercial paper FMDQ Securities Exchange has registered the Parthian Partners Limited N20 billion Commercial Paper (CP) Programme to its platform as part of its efforts to assist corporates access funds from the debt capital market (DCM). The DCM has continued to witness significant activity among corporates seeking a viable avenue to raise capital to meet their financing needs. According to the FMDQ, the registration of the CP programme strategically positions Parthian Partners Limited to raise short-term finance from the DCM with speed…

FOREX: CBN defends naira with $21.18bn in 11 months

Feb 17, 2021Feb 18, 2021 Umar Suleiman

FOREX: CBN defends naira with $21.18bn in 11 months In bid to meet demands and further strengthen naira, the local currency, the Central Bank of Nigeria (CBN) sold foreign exchange amounting to $21.18billion to authorised dealers between January and November last year, findings have shown. The figure is $13.40 billion less than the $34.58 billion that the regulator sold to authorised dealers in the corresponding period of the previous year. According to the November 2020 monthly economic report it released a few days ago, the CBN sold forex…

FMDQ process N215trn deals in 2020

Feb 17, 2021Feb 17, 2021 Banjo Olaniran

FMDQ process N215trn deals in 2020 The estimated total turnover Fixed Income and Currencies (FIC) markets for the full year 2020 stood at N215.08 trillion, indicating a YoY decrease of 7.57 per cent (N17.61trillion) on the turnover of N232.69 trillion recorded in FY 2019 Similarly, turnover in the markets for the month ended December 31, 2020 was N19.89 trillion, representing a month on month (MoM) and year on year (YoY) increase of 35.31 per cent (N5.19 trillion) and 20.91 per cent (N3.44 trillion) respectively. Foreign exchange (FX) and money…

Fidelity Bank issues N41.21bn bond

Feb 16, 2021 Omobayo Azeez

Fidelity Bank issues N41.21bn bond Fidelity Bank Plc says it has successfully issued 10-year N41.21 billion in fixed rate unsecured subordinated bond at a 8.5 per cent coupon rate due in 2031. It disclosed this in a statement titled ‘Fidelity Bank Plc successfully issued the largest ticket Tier II local bonds in Nigeria’. The bank stated, “The bond issuance, which was fully subscribed, given that total investor interest and commitments in the bonds were N56.6 billion, adds to the impressive portfolio of landmark transactions structured by the bank,…

FG to auction N150bn February bonds

Feb 12, 2021 Business Metrics

FG to auction N150bn February bonds The Debt Management Office (DMO) has said the Federal Government will auction N150 billion worth of bonds by subscription on February 17. A circular by the DMO on Thursday showed that a N50 billion 10-year reopening bond maturing in March 2027 would be offered at 16.288 per cent; another N50 billion 15-year reopening bond maturing in March 2035 would be auctioned at 12.5 per cent. It will also offer the longest of them which is a N50 billion 25-year reopening bond maturing in…

Ecobank Nigeria’s $300 bond carries 7.125% coupon rate

Feb 11, 2021Feb 12, 2021 Ugochi Emmanuel

Ecobank Nigeria’s $300 bond carries 7.125 %coupon rate Ecobank Nigeria, a wholly owned subsidiary of Ecobank Transnational Incorporated, the parent company of the Ecobank Group, has successfully priced its $300 million bond issuance maturing in February 2026, with settlement of the bond to take place on February 16, 2021. The fixed-rate, US dollar-denominated bond, with a tenor of five years, carries a coupon rate of 7.125 per cent and will be listed on the London Stock Exchange. It is accompanied by an Issuer Rating of B- from Fitch Rating…

Exchange Rate: CBN agrees to settle February NDF at N412/$1

Feb 3, 2021 Business Metrics

Exchange Rate: CBN agrees to settle February NDF at N412/$1 The Central Bank of Nigeria has revised its one-year Non-Deliverable Forwards (NDF) for which it intends to settle foreign exchange futures contracts for the period ending February 2021 to N452.82 up from N440.86. The NDF is a closely watched indicator of the direction of the exchange rate in the future and is often referenced against the spot rate of the exchange rate between the naira and the dollar. Nairametrics gathers that foreign currency analysts are pointing at the latest…