FMDQ Securities Exchange Limited has approved the listing of Nigeria Mortgage Refinance Company Plc’s N11.50 billion 10-Year 17.25 percent Series 1 Fixed Rate Bond under its N440billion Medium Term Note Programme.
This milestone highlights the Exchange’s pivotal role in enabling long-term capital formation and supporting the advancement of the Nigerian housing finance ecosystem.
Nigeria Mortgage Refinance Company Plc is a licensed mortgage refinancing institution established under the Companies and Allied Matters Act of Nigeria and regulated by the Central Bank of Nigeria.
Since its incorporation in 2013 and commencement of operations in 2014, NMRC serves as the apex liquidity facility for the Nigerian mortgage market, providing long-term funding to primary mortgage lenders and promoting affordable homeownership nationwide.
Proceeds from the Bond issuance, sponsored by Stanbic IBTC Capital Limited, Registration Member (Listings) of FMDQ Exchange, will be used to expand NMRC’s refinancing operations, strengthen its lending capacity to primary mortgage lenders, and advance the Federal Government’s strategic agenda of improving housing accessibility and affordability for Nigerians across all income levels.
In reacting to the Bond listing, Kehinde Ogundimu, Managing Director, Nigeria Mortgage Refinance Company Plc stated: “NMRC is pleased with the strong reception of our Series 1 Bond issuance, which reflects continued investor confidence in NMRC’s business model and the critical role we play in strengthening Nigeria’s housing finance ecosystem. The successful execution of this transaction enables us to further support mortgage lenders with long-term funding and advance our objective of improving access to affordable housing finance.”
Oladele Sotubo, Chief Executive, Stanbic IBTC Capital Limited, stated, “Stanbic IBTC Capital is delighted to have acted as Sole Issuing House and Bookrunner to NMRC’s Series 1 Bond issuance. The strong level of oversubscription highlights the strength of investor appetite for well-structured, high-quality credit in the Nigerian debt capital markets. This successful issuance further underscores Stanbic IBTC Capital’s commitment to supporting issuers with innovative access to long-term funding.”
Tumi Sekoni, Group Chief Operating Officer, FMDQ Group Plc said, “The listing of Nigeria Mortgage Refinance Company PLC’s Series 1 Fixed Rate Bond on FMDQ Exchange underscores the continued depth of Nigeria’s debt capital market, and the vital role that well-structured, long-tenor fixed income securities play in mobilising capital for sectors of strategic national importance.
“Housing finance remains central to inclusive economic development, and NMRC’s presence on our platform further reinforces FMDQ Exchange’s commitment to providing a transparent, efficient, and credible marketplace that connects issuers with investors and promotes sustainable growth across the Nigerian economy,” she said.