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FMDQ lists Mixta Real Estate bonds, CPs to tackle housing deficit

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FMDQ OTC Securities Exchange on Thursday achieved another feat with the listing of Mixta Real Estate (Nigeria) Plc bonds and commercial papers (CPs) on its platform.

The listing would address housing and infrastructure deficit.

The News Agency of Nigeria (NNN) reports that the exchange listed Mixta N2.9 billion tranche A and N2.32 billion tranche B Series 2 Bonds under a N30 billion debt issuance programme.

It also quoted the company’s N9.84 billion Series 1 and N2.08 billion Series 2 Commercial Papers under a N15 billion commercial paper issuance programme in a strategic move to address housing deficit.

Speaking at the event in Lagos, Ms Tumi Sekoni, Associate Executive Director, Capital Markets, FMDQ, commended the issuer for the successful issuances.

Sekoni said that the use of the proceeds of the bonds CPs would help address the nation’s housing and infrastructure gap in a sustainable manner.

She said that the proceeds would help to deliver prosperity for Nigerians and further deepen the domestic debt capital market (DCM), invariably contributing to the nation’s development.

Sekoni reiterated FMDQ’s commitment to continuing to deliver strategic initiatives towards the development of a highly liquid, deep and well-developed DCM in Nigeria.

Mr Kola Ashiru-Balogun, Mixta Real Estate Managing Director, said that the proceeds would help the company to develop affordable housing units to Nigerians.

“These issuances play an important role in implementing our business strategy to develop affordable housing units; our modest contribution to bridging Nigeria’s significant housing deficit.

“The confidence the Nigerian capital market has in us as demonstrated in these issuances is encouraging; we are more than ever committed in our quest to make strategic partnerships and provide innovative solutions whilst utilising effective long-term financing mechanisms,” Ashiru-Balogun said.

He said that the company would remain committed to affordable housing, adding that it would continue to embrace the capital market for growth and development.

Speaking on behalf of the sponsor to the bonds and CPs, Mr Kayode Akinkugbe, stated; “we are pleased to have advised Mixta PLC on the issuances of its bonds and CPs.

Akinkugbe, Managing Director, FBNQuest Merchant Bank Ltd. , said that it was pleased to support Mixta in obtaining bridge finance to address housing challenges.

He said that the transaction would enable the company to finance affordable housing projects and extends the tenor of its debt portfolio.

Ms Kaodi Ugoji, Associate Executive Director, Corporate Development, FMDQ, in her closing remarks, applauded the issuer for achieving the feat.

She also commended the sponsor to the issue and Registration Member (Listings & Quotations) of FMDQ for their concerted efforts towards ensuring the success of the issuances.

Ugoji noted that through consistent collaboration with its
stakeholders, FMDQ would not relent in its efforts to further deepen and effectively position the Nigerian DCM for growth. (NNN)
JNC /CHOM/WOJ

Edited by Chioma Ugboma/Wale Ojetimi

Contact US: editor[at]nnn.com.ng, nnnnews247[at]gmail.com

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