FMDQ Securities Exchange Limited has approved the listing of LAPO MFB SPV Plc’s N4.46 billion Series 1 5-Year 20 percent Fixed Rate Bond. The Bond is under its N30 billion Bond Issuance Programme.
- +FMDQ Exchange lists N4.46bn LAPO MFB SPV bond for microfinance sector expansion
LAPO MFB SPV Plc is a special purpose vehicle established to facilitate capital raising on behalf of its sponsor, LAPO Microfinance Bank Limited, one of Nigeria’s leading microfinance institutions.
LAPO MFB SPV Plc is a special purpose vehicle established to facilitate capital raising on behalf of its sponsor, LAPO Microfinance Bank Limited, one of Nigeria’s leading microfinance institutions.
The approval, granted by the Exchange’s Board Listings and Markets Committee, provides a platform for mobilising long-term capital to support the growth objectives of LAPO Microfinance Bank and reflects the continued relevance of the Nigerian debt capital market in connecting issuers with funding for sustainable expansion.
Proceeds from this Bond issuance, sponsored by FirstCap Limited (Lead Sponsor) and AVA Capital Partners Limited (Co-Sponsor), both Registration Members (Listings) of FMDQ Exchange, will be used to expand financing opportunities for small and medium-sized enterprises, improve access to renewable energy solutions and strengthen the delivery of digital financial services to micro, small and medium-sized enterprises across Nigeria.
Commenting on the Bond listing, Oluwaseun Afolabi, senior vice president, FMDQ Exchange, said, “The listing of LAPO MFB SPV PLC’s Series 1 Bond reflects the growing sophistication of Nigeria’s debt capital markets and their capacity to support long-term funding needs across the financial inclusion space. Through listings such as this, FMDQ Exchange continues to foster a market that channels capital towards enterprises and initiatives capable of delivering broad-based economic impact.”
