FMDQ Securities Exchange Limited has approved the listing of the ₦11.50 billion 10-year 17.25 per cent Series 1 Fixed Rate Bond issued by Nigeria Mortgage Refinance Company Plc (NMRC) under its ₦440 billion Medium Term Note Programme.
The listing was announced on Monday as part of efforts to deepen housing finance and expand access to affordable mortgages in Nigeria.
The bond issuance was sponsored by Stanbic IBTC Capital Limited, a Registration Member (Listings) of FMDQ Exchange.
Bond To Support Housing Finance Expansion
According to the statement, proceeds from the bond issuance will be used to strengthen NMRC’s refinancing operations and increase long-term funding support for primary mortgage lenders across the country.
The initiative is also expected to support the Federal Government’s broader agenda of improving housing affordability and accessibility for Nigerians across different income levels.
NMRC, established in 2013 and operational since 2014, serves as Nigeria’s apex mortgage refinancing institution regulated by the Central Bank of Nigeria.
The company provides liquidity support to mortgage lenders to encourage affordable homeownership nationwide.
Investors Show Strong Confidence
Managing Director of NMRC, Kehinde Ogundimu, described the strong investor response to the bond issuance as a reflection of confidence in the company’s business model and housing finance mandate.
“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,” he said.
Chief Executive Officer of Stanbic IBTC Capital Limited, Oladele Sotubo, also noted that the oversubscription highlighted growing investor appetite for structured fixed-income instruments within Nigeria’s debt capital market.
FMDQ Highlights Role Of Capital Market
Group Chief Operating Officer of FMDQ Group Plc, Tumi Sekoni, said the listing demonstrates the importance of long-term debt instruments in mobilising capital for strategic sectors such as housing.
According to her, housing finance remains essential to inclusive economic growth and sustainable development.
She added that FMDQ Exchange remains committed to providing a transparent and efficient marketplace that connects issuers with investors while strengthening Nigeria’s financial markets.
