AG Mortgage Bank Plc has raised N3.97bn through its Series 2 and 3 Commercial Paper issuance after the notes recorded 100 per cent subscription.
The commercial papers were issued under the bank’s registered N5bn Commercial Paper Programme to support its short-term working capital and funding requirements, according to a statement on Wednesday.
The issuance opened on June 10 and closed on June 18, with the Series 2 and 3 notes having tenors of 270 days and 364 days and gross implied yields ranging from 22.5 per cent to 24 per cent.
FSDH Capital Limited acted as the Lead Arranger, while Pathway Advisors Limited, AIICO Capital Limited and ARM Capital Limited were Joint Arrangers.
Commenting on the fully subscribed Series 2 and Series 3 commercial paper notes, the Managing Director and Chief Executive Officer of AG Mortgage Bank Plc, Ngozi Anyogu, said, “The successful subscription of our commercial paper issuance reflects the confidence that investors have in AG Mortgage Bank, our governance standards, and our long-term vision for expanding access to housing finance. It reinforces our position as a trusted institution within Nigeria’s mortgage and capital markets.”
