AG Mortgage Bank’s N3.97bn Commercial Paper Records 100% Subscription
Ibrahim Shuaibu in Dutse
AG Mortgage Bank Plc has raised N3.97 billion through its Series 2 and 3 Commercial Paper (CP) issuance as the offer recorded 100 per cent subscription, underscoring strong investor appetite for the mortgage lender’s short-term debt instruments.
The CP issuance was conducted under the bank’s registered N5 billion CP Programme, with the offer opening on June 10 and closing on June 18.
The Series 2 and 3 notes have tenors of 270 days and 364 days respectively, with gross implied yields ranging between 22.5 per cent and 24 per cent.
