N3.15b LAPO microfinance bond listed through FCMB
March 29, 2018
N3.15b LAPO microfinance bond listed through FCMB. LAPO microfinance bank has succeeded in listing N3.15b bond in the Nigeria’s debt capital market.
A subsidiary of FCMB Group PLC , FCMB Capital markets limited are issuing house and financial advisers of LAPO microfinance bond of N3.15 on FMDQ OTC.
This has as well gone down in record as the first microfinance bank to raise fund in the Nigeria’s debt capital market.
The bond is priced at 17.75 percent with a tenure to run for five years.
According to Augusto and Co and BBB+ by GCR, investment grade ratings, the issue was rated A.
Speaking at the bond listing in Lagos, Executive Director of FCMB Capital market limited Mr Tolu Osinibi said:
“We are excited and grateful at having been given the opportunity by LAPO MfB to have played a leading role on this landmark transaction.”
Also speaking, the CEO of LAPO Microfinance Bank, Dr. Godwin Ehigia-musoe, said: “The gap between the demand by micro, small and medium businesses and the little supply is still huge. “LAPO MfB was only able to deliver loans valued at N135.7 billion in 2017. We have, therefore, made a very sound decision.”
Raphael Orji is a freelance writer, professional blogger and a content marketing consultant. I work with small businesses, startups and entrepreneurs in building their brand image with high quality blogging and content marketing strategy.
In need of highly purposeful driven articles that will resonate with your audience,
Want this kind of article that engages, converts and compels your readers to buy from you,
If you want search Engines like Google, Bing and Yahoo to send and open the floodgates of readers to your website/blog on daily basis,
Want to rank your website/blog
Head over to my Hire Me page and see which of my services you’d like to have.