N3.15b LAPO microfinance bond listed through FCMB

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.”


One comment on “N3.15b LAPO microfinance bond listed through FCMB

Raphael Orji

I’m really impressed together with your writing skills and also with the layout on your weblog. Is that this a paid subject matter or did you customize it your self? Anyway keep up the excellent quality writing, it is uncommon to peer a nice blog like this one nowadays.


Leave a Reply

Your email address will not be published.

Follow financengr on Twitter

Subscribe via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

%d bloggers like this: