NGX admits Nova Merchant Bank N10 billion bond which is due in 2027

NIGERIA – The Nigerian Exchange Group (NGX), has announced the listing of Nova Merchant Bank Plc’s N10billion (US$24.32m) Bond. The bond listed is the NOVAMBL Investments SPV N10billion Series I, 7-year 12percent subordinate unsecured fixed rate bond due 2027 under the company’s N50billion Bond Issuance Programme. “We are delighted to commemorate the listing of Nova Merchant Bank’s debut listing of its N10Bn Bond which was oversubscribed by 300%. The success of the Bond is an indication of the level of investor confidence in the company’s reputation, brand and corporate performance,”…

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