Mixta Real Estate Plc, a subsidiary of Mixta Africa, has listed bonds and commercial papers totalling N17.10bn on the FMDQ OTC Securities Exchange.
The company listed a N2.96bn Tranche A and N2.32bn Tranche B Series 2 Bonds under a N30bn Debt Issuance Programme and quoted N9.84bn Series 1 and N2.08bn Series 2 Commercial Papers under a N15bn Commercial Paper Issuance Programme.
The Associate Executive Director, Capital Markets, FMDQ, Ms Tumi Sekoni, while speaking during the listing ceremony in Lagos on Thursday, stated that the proceeds from the bonds and commercial papers would help address the nation’s housing and infrastructure gap in a sustainable manner to deliver prosperity for Nigerians and further deepen the domestic Debt Capital Market.
The Managing Director, Mixta Real Estate, Mr Kola Ashiru-Balogun, said, “These issuances play an important role in implementing our business strategy to develop affordable housing units, which is our modest contribution to bridging the housing deficit in the country.
“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 while utilising effective long-term financing mechanisms.”
The Managing Director/Chief Executive Officer, FBNQuest Merchant Bank Limited, Mr Kayode Akinkugbe, said the bank was pleased to have acted as an advisor to Mixta Real Estate on the issuances of the bonds and commercial papers.
He said, “As a full-service investment bank, we have supported Mixta to obtain bridge finance and we have also advised them on the bond and commercial paper issuances as well as security structure.
“We leveraged our extensive distribution capability to successfully sell the bonds and commercial papers. This transaction enables Mixta to finance affordable housing projects and extends its debt portfolio tenor.”
He added that listing and quoting of the bonds and commercial papers on the FMDQ would provide investors with a transparent and efficient platform for price determination, liquidity and execution of trades.
The Associate Executive Director, Corporate Development, FMDQ, Ms Kaodi Ugoji, reiterated the plans of the FMDQ to consistently collaborate with stakeholders as part of efforts to further deepen and effectively position the Nigerian DCM for growth.