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
AG Mortgage Bank Plc has successfully raised N3.97 billion through its Series 2 and 3 Commercial Paper issuance, with the offer enjoying a 100 per cent subscription rate. The issuance, conducted under the bank's registered N5 billion CP Programme, spanned from June 10 to June 18. Series 2 and 3 notes feature tenors of 270 days and 364 days, respectively, with gross implied yields between 22.5 per cent and 24 per cent.
Lead Arranger FSDH Capital Limited collaborated with Joint Arrangers Pathway Advisors Limited, AIICO Capital Limited, and ARM Capital Limited to facilitate the transaction. The raised funds will bolster the bank's liquidity, support short-term working capital needs, and enable AG Mortgage Bank to deepen its mortgage financing activities and real estate pipeline.
AG Mortgage Bank's Managing Director and Chief Executive Officer, Ngozi Anyogu, attributed the full subscription to the bank's strong governance standards and long-term strategy, emphasizing that the successful issuance reinforces the institution's position as a trusted entity within Nigeria's mortgage and capital markets. The funds will enhance the bank's liquidity position, facilitate the expansion of mortgage financing, and accelerate the delivery of affordable housing solutions for Nigerians.
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