NOVA Bank, a leading merchant bank in Nigeria, has announced that its N20 billion Series 1 & 2 Commercial Paper issuance under the Nova Merchant Bank Limited N50 billion CP Programme is now open.<\/p>\n
The company said the offer which opened on the FMDQ platform on Tuesday, February 8, 2022 has a tenor of 182 days for Series 1 while the Series 2 shall be for 270 days.<\/p>\n
The bank notes that the proceeds from this Commercial paper will be used to fund short-term working capital requirements and for general corporate purposes.<\/p>\n
The Managing Director\/ Chief Executive Officer of NOVA Bank, Mr. Nath Ude, said, \u201cThe successful listing of our N50billion CP Programme on the FMDQ platform further gives credence to NOVA Bank\u2019s confidence\u00a0in the Nigerian debt capital market and puts the Bank in a position to broaden potential funding sources and create superior value in the financial market it serves. We remain driven by our aspiration to transform the African financial services landscape with fresh thinking and innovative solutions\u201d.<\/p>\n
The new offer follows the recent successful run of NOVA\u2019s first bond issuance listing\u00a0of N10 billion 7-Year Subordinated Unsecured Bond on the FMDQ platform last year which saw an oversubscription by 300%, as it remains one\u00a0of the major corporate bond issuances by a Merchant Bank in Nigeria\u2019s capital markets, thus reflecting the bank\u2019s strong credit quality as well as the resilience of the debt market despite current global challenges<\/p>\n
NOVA Bank continues to demonstrate dominance in the Nigerian merchant banking space with its\u00a0integrated suite of financial solutions covering Wholesale Banking, Investment Banking, Asset Management, Wealth Management, Trade Services, Transaction Banking, Cash Management and Digital Banking.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
NOVA Bank, a leading merchant bank in Nigeria, has announced that its N20 billion Series 1 & 2 Commercial Paper issuance under the Nova Merchant Bank Limited N50 billion CP Programme is now open. The company said the offer which opened on the FMDQ platform on Tuesday, February 8, 2022 has a tenor of 182 days for Series 1 while the Series 2 shall be for 270 days. The bank notes that the proceeds from this Commercial paper will be used to fund short-term working capital requirements and for general corporate purposes. The Managing Director\/ Chief Executive Officer of NOVA Bank, Mr. Nath Ude, said, \u201cThe successful listing of our N50billion CP Programme on the FMDQ platform further gives credence to NOVA Bank\u2019s confidence\u00a0in the Nigerian debt capital market and puts the Bank in a position to broaden potential funding sources and create superior value in the financial market it serves. We remain driven by our aspiration to transform the African financial services landscape with fresh thinking and innovative solutions\u201d. The new offer follows the recent successful run of NOVA\u2019s first bond issuance listing\u00a0of N10 billion 7-Year Subordinated Unsecured Bond on the FMDQ platform last year which saw an oversubscription by 300%, as it remains one\u00a0of the major corporate bond issuances by a Merchant Bank in Nigeria\u2019s capital markets, thus reflecting the bank\u2019s strong credit quality as well as the resilience of the debt market despite current global challenges NOVA Bank continues to demonstrate dominance in the Nigerian merchant banking space with its\u00a0integrated suite of financial solutions covering Wholesale Banking, Investment Banking, Asset Management, Wealth Management, Trade Services, Transaction Banking, Cash Management and Digital Banking. <\/p>\n","protected":false},"author":1,"featured_media":1886,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,9],"tags":[31,38,28],"class_list":["post-1889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-release","tag-bonds","tag-commercial-paper","tag-nath-ude"],"yoast_head":"\n